Closing market podcast for April 9, 2018

The Nifty50 which started higher in morning trade on Monday build up momentum towards the closing as the index managed to end with gains of nearly 50 points.

Indian markets gathered steam after a bounce in US stock futures which soothed sentiment as trade war tension eased. Global stocks rose as the U.S. government played down fears of a trade war with China that has roiled markets over the last week, said a Reuters report.

Trump’s chief economic adviser, National Economic Council Director Larry Kudlow said in an interview on Sunday the ongoing spat “might turn out to be very benign”.

In a Twitter post on Sunday Trump appeared to echo this, saying any tariffs would be reciprocal and that he saw a “Great future for both countries!”

Back home, financials, consumer durables, capital goods led the rally on D-Street with indices rallying by over 1 percent each while IT, telecom and healthcare stocks closed in the red.

The Nifty50 recovers from opening lows to gain 220 points. Top gainers include stocks like HDFC Bank and Axis Bank top gainers.