Sensex Today, Nifty 50 | Stock Market Highlights: The Indian stock market erased losses and closed in the green on Tuesday, April 7, even as the US-Iran trade tensions lingered. This was the fourth straight day of gains for the benchmark indices. Investors are waiting for the Reserve Bank of India’s policy decision due on Wednesday, its first since the conflict began.
The Sensex erased over 800-point loss and closed the session 510 points or 0.69% higher at 74,616. At the same time, the Nifty 50 index ended at 23,124, up 155 points or 0.68%.
The broader market trend was mixed as the Nifty Midcap index gained 0.20% and the Nifty Smallcap index was down 0.06%. Sectorally, barring PSU banks, all major indices ended higher. IT pack emerged as the top performer ahead of Tata Consultancy Services’ earnings on Thursday.
Market outlook ahead
“In the near term, market direction is likely to remain driven by geopolitical developments and selective value buying, with focus gradually shifting to the earnings season for assessing potential downgrade risks arising from higher crude prices and currency volatility,” said Vinod Nair, Head of Research, Geojit Investments.