Sensex Today Rallies 919 Points | Nifty Above 24,000 | 3 Reasons Why Indian Share Market Is Rising

Fri, 10 Apr Closing

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After opening the higher, Indian market rallied ahead as the session progressed and ended the day on strong footing.

The Nifty50 and the Sensex resumed their gaining streaks after a one-day break as traders assessed the situation in West Asia.

At the closing bell, the BSE Sensex  closed higher by 919 points (Up 1.2%).

Meanwhile, the NSE Nifty closed 275 points higher (Up 1.1%).

Asian Paints, ICICI Bank and Bajaj Auto among the top gainers today.

Coal India, Sun Pharma and TCS on the other hand, were among the top losers today.

The GIFT Nifty was trading at 24,096.5 up by 213 points at the time of writing.

The BSE 150 MidCap index ended 1.7% higher and BSE 250 SmallCap index ended 1.6% higher.

Barring IT sector, all other sectoral indices were trading on positive note, with stocks in banking sector and auto sector witnessing buying speer.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

The rupee is trading at 92.73 against the US$.

Gold prices for the latest contract on MCX are trading 0.8% lower at Rs 152,163 per 10 grams.

Meanwhile, silver prices were trading 1.3% lower at Rs 240,654 per 1 kg.

Here are three reasons why Indian share markets are rising:

#1 Optimism Ahead of US-Iran Talks

Domestic markets are witnessing strong buying interest amid optimism that the upcoming US-Iran talks this weekend could ease tensions in West Asia. A potential de-escalation may help stabilise crude oil prices and reduce global macroeconomic risks, boosting investor sentiment.

#2 Positive Global Cues

Global markets also supported the rally, with Japanese and South Korean benchmarks rising nearly 2% following overnight gains in the S&P 500 and Nasdaq. Sentiment improved after Donald Trump softened his stance on Iran, while Israel agreed to hold talks with Lebanon next week, raising hopes of easing geopolitical tensions.

#3 Strong Buying in Banking and Financial Stocks

Buying in banking and financial heavyweights further supported the benchmarks. The Nifty Bank and Financial Services indices surged nearly 2% during the session, driven by value buying ahead of the upcoming Q4 earnings season.

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Nifty IT Falls 3%

In news from the IT sector, technology stocks extended their decline on Friday, with the Nifty IT index dropping sharply by as much as 3%. The index snapped a six-session gaining streak, even as the broader market continued to trade firmly in the green.

The fall marks a reversal after a steady uptrend in IT stocks, which had posted gains for six consecutive sessions. Despite the recent recovery, the IT pack had underperformed compared to the broader market rally seen earlier this week.

Friday's decline also reflects a shift in investor positioning, with funds moving toward domestic-focused sectors. Banking and financial heavyweights such as ICICI Bank, Axis Bank, Bajaj Finance, and SBI Life Insurance gained around 2-3%. Meanwhile, the auto and realty indices also advanced, rising up to 2-2.7%.

Why Coal India Share Price is Falling?

Moving on to the news from the mining sector, shares of Coal India fell sharply on Friday, declining 4.2% to Rs 435, emerging as the top loser on the Nifty 50, even as the broader market traded firmly in the green.

The decline comes after the state-run miner indicated that it is absorbing a significant rise in input costs while adopting pricing measures to keep coal affordable for consumers.

Coal India highlighted that explosives prices have surged 44% to Rs 72,750 per metric tonne, while industrial diesel prices have risen 54% to Rs 142 per litre. Despite these cost pressures, the company has decided not to fully pass on the increased costs to customers.

As part of its pricing strategy, Coal India has also reduced the coal reserve price in single-window, mode-agnostic e-auctions. The move aims to ensure affordable coal supply and limit downstream cost escalation. However, this decision appears to have weighed on investor sentiment, with markets factoring in potential margin pressure due to higher cost absorption.

Defence Stocks Rally Up to 16%

Moving to the defence sector, defence-related shares surged by as much as 16% on Friday, supported by a broad-based rally in the domestic equity market. The Nifty India Defence index rose 1.4%, with 17 out of its 19 constituents trading in the green.

The index has remained on an upward trajectory over the past seven trading sessions, gaining more than 14% during this period, reflecting sustained investor interest in defence stocks.

Aequs emerged as the top gainer, surging 16%.

Meanwhile, Bharat Forge and Dynamatic Technologies followed, advancing 3.43% and 2.9%, respectively.

The rally in defence stocks was further supported by improving market sentiment after reports of a ceasefire between the US and Iran, easing geopolitical concerns and boosting investor confidence.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

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INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

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Indian Share Market Update: Top Gainers and Losers