Sensex Surges 600 Points, Nifty Reclaims 23,600, FII Buying Drives Rally

From Dip to Domination: Dalal Street’s 1,500-Point Power Move

Markets Turn the Tide as FII Muscle, Global Optimism Fuel Historic Rally

Mumbai, 17 April – A downslide turned into a thrilling comeback rally as the bulls charged Dalal Street in a hard-angled afternoon turnaround. The sensex, which stumbled into the early trade, jumped over 1,500 points by noon, while the Nifty proceeded from 23,850 indicating a forceful intraday recovery.

The Big Picture at 1:45 PM:
Sensex: ▲ 1,357 points at 78,402
Nifty: ▲ 378 points at 23,815
Advances/Declines: 2,183 / 1,203
Market Mood: Overwhelming optimism with volume-driven buying

What Drove the Turnaround?

1. Global Markets Play Wingman
Asia led the way early on — Japan’s Nikkei, Hong Kong’s Hang Seng, and South Korea’s Kospi recorded more than 1% gains. With Wall Street futures up, global sentiment reinforced the change of pace.

2. Rupee’s Silent Strength
The rupee rose 10 paise to 85.54 against the dollar, supported by consistent FII inflows and a softer dollar index. This marked the fourth consecutive session of gains — subtle, but confidence-building.

3. Foreign Fund Firepower
FIIs invested ₹3,936 crore on Wednesday alone, brushing aside caution and going for quality blue chips. While DIIs booked some profit (₹2,513 crore outflow), the influx from abroad proved to be the market’s secret weapon.

4. Hope Floats on Trade Buzz
Speculation of a possible India–US trade agreement has created renewed hope. In the context of shifting geopolitics and a tense US–China relationship, India as a strategic trade ally is attracting investor interest.

Morning Weakness, Afternoon Strength
Markets opened weak, with the Sensex down 360 points and the Nifty slipping nearly 130. But the reversal was swift and dramatic.

Heavyweights Take Centre Stage
Bharti Airtel, ICICI Bank, Zomato, Sun Pharma and SBI were among the top movers, each gaining up to 3%. The buying was broad-based, spanning across sectors — from banks to oil. The breadth of the market signalled a boom.

The Technical Lens: Trend Shift or Trap?
Markets rebounded from key support levels and moved above significant resistance zones. Traders are now eyeing:
Resistance: 23,800–24,000
Support: Around 23,000
Put–Call Ratio: Climbed to 0.84 — a balanced sentiment, not oversold
India VIX: Fell 1.6% to 15.86, but remains on volatile ground

Although the trend appears strong, analysts are considering the possibility of a pause or consolidation near current levels.

Looking Ahead: Bulls in Control, But Watch the Skies
Thursday’s rally extends a four-day winning streak. But with volatility still lurking and global events unfolding, traders are likely to tread with guarded confidence. For now, Dalal Street is basking in green — but momentum must hold.