Investor wealth surged by a massive Rs 7.85 lakh crore on Friday, driven by a sharp rally in Indian stock markets after the US suspended additional tariffs on India for the next 90 days, until July 9.
The 30-share BSE Sensex soared 1,310.11 points (1.77%) to close at 75,157.26, with a daily high of 75,467.33, up by 1,620.18 points (2.19%). This rally boosted the market capitalisation of BSE-listed firms to Rs 4,01,67,468.51 crore (around USD 4.66 trillion).
Among the top gainers were Tata Steel, Power Grid, NTPC, Kotak Mahindra Bank, Reliance Industries, and Adani Ports, while Asian Paints and Tata Consultancy Services lagged behind.
The NSE Nifty also surged, gaining 429.40 points (1.92%) to settle at 22,828.55.
Sectoral gains
Broad-based optimism swept through the market, with all sectors closing higher. The commodities sector saw the biggest jump, up by 3.40%, followed by consumer durables (2.92%) and utilities (2.76%). Both the midcap and smallcap indices also recorded substantial gains, rising 1.84% and 3.04%, respectively.
The market’s strong performance came despite ongoing global trade uncertainties, particularly between the US and China, which continues to engage in a tit-for-tat tariff battle.
According to Satish Chandra Aluri, Analyst at Lemonn Markets Desk, the rally was fueled by market optimism following the US tariff pause. However, he cautioned that sentiment remains fragile as the focus shifts to the escalating US-China trade tensions.
Siddhartha Khemka, Head of Research at Motilal Oswal Financial Services, added that the Nifty maintained its gains despite global uncertainties, with investors reacting positively to the US tariff delay.
With 3,115 stocks advancing and 846 declining on the BSE, the rally reflected widespread participation, indicating robust market sentiment.
