Trump tariff pause impact: M-cap of BSE-listed firms surges by Rs 7.8 lakh crore in biggest jump in one month

Broader indices also witnessed strong traction, with the BSE MidCap and SmallCap indices advancing 2 percent and 2.8 percent respectively.

The total market capitalisation of all listed companies on the Bombay Stock Exchange (BSE) surged by Rs 7.8 lakh crore on April 11, marking the largest single-day increase in one month, as Indian equities rallied sharply. BSE-listed firms' overall market cap rose to Rs 401.55 lakh crore from the previous close of Rs 393.82 lakh crore.

On an intraday basis, the m-cap jump was the highest in six months at Rs 402.38 lakh crore.

The blue-chip Nifty 50 index rose 1.92% to close at 22,828.55 on Friday, while the BSE Sensex gained 1.77% to 75,157.26, its steepest gain since November 22, 2024. Both the indices closed the week 0.3% lower. Broader indices also witnessed strong traction, with the BSE MidCap and SmallCap indices advancing 1.8 percent and 2.8 percent respectively.

This domestic upsurge followed a sharp global rally on April 9, spurred by US President Donald Trump's announcement of a temporary suspension on new tariffs for select countries.

However, global markets turned volatile soon after. Asian indices slumped on Friday amid renewed concerns over escalating US-China trade tensions. Japan’s Nikkei 225 plummeted over 5.6% in early trade, while Hong Kong’s Hang Seng slipped 0.4% to 20,606.04. China’s Shanghai Composite declined 0.2% to 3,218.94. South Korea’s Kospi dropped 1.6% and Australia’s ASX 200 lost 2.1%.

The yen appreciated sharply, with the dollar weakening to 143.48 yen from 146 on Thursday, signaling a flight to safety. Gold prices also touched fresh highs amid rising risk aversion.

Ritesh Jain, Founder of Pinetree Macro, noted that while US developments may influence opening cues, India’s markets are more closely tied to U.S. bond market volatility. “Gold in INR has again reached a new high,” he added, emphasising on the domestic factors at play.

Despite the optimism, analysts urged caution. Mandar Bhojane, Equity Research Analyst at Choice Broking, advised investors to remain vigilant given the unpredictability of U.S. policy. “Trump’s stance can change overnight. Buying on dips near 22,800 with a stop-loss is advisable. Alternatively, look to sell near the resistance zone of 23,200–23,366 if weakness persists,” he suggested.

Akshay Chinchalkar, Head of Research at Axis Securities, highlighted key technical levels, stating that the Nifty has immediate resistance between 22,800–22,900, with the next upside hurdle seen inside the 23000–23,400 zone where the 50-day and the 100-day moving averages presently reside. “Closing above 22857 for the day will encourage bulls,” he added.