Amidst Global Market Meltdown, Sensex & Nifty Surge! Is PM Modi’s Diplomacy Steering the Upswing?

Stock Market Today: While global markets are in turmoil, India’s stock market today is telling a different story. Despite fears of a recession in the US and rising reciprocal tariffs, Indian indices Sensex and Nifty50 opened in the green on Tuesday. It seems PM Modi’s strategic diplomacy and domestic economic strength are shielding the market from international pressure.

Indian Stock Market Today Defies Global Meltdown

The global meltdown, triggered by aggressive US trade policies and uncertainty around reciprocal tariffs, has impacted investor sentiment worldwide. However, back home, investors found some comfort. Around 11:29 am, the Sensex jumped 911 points or 1.23% to reach 74,026, while the Nifty50 surged 198 points or 0.92%, touching 22,355.

This positive move came even as global cues remained weak. Large-cap stocks led the charge, with notable support from Titan, Tata Steel and Adani Ports. The surge extended to midcaps and smallcaps as well, adding to the optimism. The Nifty Midcap 100 was up 760 points (1.61%), and the Nifty Smallcap 100 gained 281 points (1.91%).

Metal, PSU Banks Lead the Charge

Despite the global meltdown, all sectoral indices on NSE traded in the green. PSU banks, metals, realty, infra and energy stocks were among the top gainers. This sector-wide rally is a rare phenomenon during times of international economic distress.

Companies like Tata Motors, Bajaj Finserv, SBI, Axis Bank, UltraTech Cement, and Zomato saw significant buying interest. TCS stood as the lone stock in red in the otherwise bullish Sensex pack.

Market Experts Warn: Global Volatility May Stay

Experts believe that this upbeat mood in the Indian stock market today might not be permanent. V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said, "The global scenario remains tense due to ongoing trade disputes. But India seems to be handling the heat better than most."

He further added, "The US-China trade war may continue, but countries like India, Japan, and those in the EU are exploring peaceful negotiations. India’s active discussions on a Bilateral Trade Agreement (BTA) with the US is a hopeful sign."

He also highlighted that the US recession risks are increasing while China may suffer the most in this round of trade tension.

All Eyes on RBI’s April 9 Meeting and TCS Earnings

According to Prashanth Tapse, Senior VP (Research), Mehta Equities, traders are cautious but hopeful. The RBI is expected to cut rates by 25 basis points on April 9, which could provide further boost to the market. In addition, TCS corporate earnings on April 10 might offer more clarity on market direction.

This combination of domestic monetary policy and solid corporate results could help India maintain its edge amidst global chaos.

India-US Trade Talks: A Ray of Hope Amid Tariff War

Amidst the trade war and reciprocal tariffs, there’s positive movement on the diplomatic front. India’s External Affairs Minister S. Jaishankar and US Secretary of State Marco Rubio held discussions over the phone, just days after President Trump announced new tariffs on 50 countries, including India.

Both leaders agreed on the need to finalise the Bilateral Trade Agreement quickly. Jaishankar, in a post on X, stated, “Good to speak with @SecRubio today... Agreed on the importance of the early conclusion of the Bilateral Trade Agreement.”

This conversation marks the first high-level communication since Trump’s tariff move and could signal a possible softening of the US stance if negotiations progress.

Is PM Modi’s Global Strategy Paying Off?

While the world struggles with inflation, trade tensions, and economic slowdowns, India is cautiously navigating through the storm. Many are crediting PM Modi’s balanced diplomacy for this.

India’s ability to engage with the US on trade, tackle reciprocal tariffs and maintain macro stability at home may just be the reason why the stock market today is holding strong.

With the RBI’s potential rate cut, corporate earnings coming in and high-level diplomatic talks progressing, investors are watching closely. One thing is clear — India is emerging as a steady player amidst a shaky global environment.