The National Stock Exchange of India witnessed a significant surge as the SENSEX soared over 900 points, with the NIFTY50 also reclaiming 22,350 points. This surge was driven by optimism surrounding potential trade developments, particularly reports suggesting that President Donald Trump might consider rolling back certain tariffs. The market responded positively to hints from United States Secretary of Commerce Howard Lutnick regarding possible tariff relief for Canada and Mexico, which could involve reducing the existing tariffs on imports from these countries.

Following a recent downward trend, the Indian equity benchmarks experienced a notable rebound on March 5. The SENSEX rose by as much as 943.87 points, reaching an intraday high of 73,933.80, while the NIFTY50 index also saw a substantial increase, touching an intraday high of 22,395 points. This resurgence in the market was fueled by the easing of trade tensions, leading to a broad-based buying spree across various sectors.

Analysts attributed the market’s positive momentum to key technical factors, such as the benchmarks finding support at the 500-day exponential moving average levels. Additionally, indicators like the relative strength index (RSI) signaled that the market had entered oversold territory, prompting investors to capitalize on the undervalued conditions.

The buying interest was not limited to specific sectors, as evidenced by the rise in sectoral gauges across the National Stock Exchange. Notable gains were observed in sectors like IT, telecom, oil & gas, realty, PSU banks, metals, media, and auto. Companies such as Coforge, Adani Ports, KPIT Tech, Persistent Systems, Cyient, Vodafone Idea, and Birlasoft recorded significant upticks in their stock prices.

Furthermore, the broader market indices, including Nifty Midcap 100 and Nifty Smallcap 100, also witnessed an uptrend, reflecting a widespread bullish sentiment among investors. Stocks like Trent, Mahindra & Mahindra, Power Grid, Adani Enterprises, Tata Steel, NTPC, Eicher Motors, and Tata Motors experienced notable gains, contributing to the overall positive market breadth.

However, amidst the overall optimism, some stocks like Bajaj Finance, HDFC Bank, Grasim, and IndusInd Bank faced marginal declines. Despite these isolated losses, the market sentiment remained overwhelmingly positive, with a significantly higher number of advancing stocks compared to declining ones.

In conclusion, the National Stock Exchange of India saw a robust upswing, driven by positive trade sentiments and technical indicators pointing towards a market correction. The market breadth remained favorable, with widespread buying interest across various sectors, signaling a strong investor confidence in the market’s upward trajectory.