Sensex, Nifty End Higher Ahead of US Reciprocal Tariffs Announcement
The Indian stock market saw a positive surge on Wednesday, with both the Sensex and Nifty closing higher, just ahead of the deadline set by US President Donald Trump for reciprocal tariffs. The market rally was primarily driven by strong performances in banking and IT stocks.
Mumbai: The Indian stock market saw a positive surge on Wednesday, with both the Sensex and Nifty closing higher, just ahead of the deadline set by US President Donald Trump for reciprocal tariffs. The market rally was primarily driven by strong performances in banking and IT stocks.
The Sensex gained 592.93 points, or 0.78%, to close at 76,617.44. Throughout the session, the index fluctuated between an intra-day high of 76,680.35 and a low of 76,064.94.
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Similarly, the Nifty also experienced a rebound, rising 166.65 points, or 0.72%, to settle at 23,332.35, with the intra-day high reaching 23,350 and a low of 23,158.45.
Top Gainers and Losers on the Sensex
Out of the 30 Sensex stocks, 21 ended in the green. The biggest performers included Zomato, Titan, IndusInd Bank, Maruti Suzuki India, and Tech Mahindra, with gains of up to 4.75%.
On the flip side, Ultratech Cement, Nestle India, Bajaj Finance, Power Grid Corporation, and Bajaj Finserv were the biggest losers, declining by up to 1.36%.
Midcap and Smallcap Stocks Outperform
Midcap and smallcap stocks outperformed the broader market on Wednesday. The Nifty Midcap100 index saw a strong increase of 1.61%, while the Nifty Smallcap100 index gained 1.12%.
Also Read: Sensex, Nifty Open Higher Amid Mixed Global Cues
Sectoral Performance
All sectoral indices on the NSE closed in the green, with the Nifty Realty index leading the gains, surging by 3.61%. Other top-performing sectors included Consumer Durables, Banks, and Financial Services, which rose by up to 2.51%.
Market Resilience Amid Global Uncertainty
The rally comes at a crucial time as investors await the potential impact of new trade tariffs that are set to take effect on April 2 (US time). Despite global uncertainties, the Indian market has shown resilience, with strong buying support in key sectors, according to market analysts.
Further strengthening market sentiment, India’s manufacturing PMI for March reached an eight-month high, signaling a potential recovery in Q4 FY25 corporate earnings.
Technical Outlook
Rupak De of LKP Securities highlighted that despite a recent market correction, the index appears to be finding support at the critical 50 EMA on the daily timeframe, which could indicate further stability.
Rupee Performance
Meanwhile, the Indian Rupee remained flat near 85.47, as markets await the potential impact of US reciprocal tariffs and their effects on the global economy.
Key Takeaways:
- Sensex gained 0.78% to close at 76,617.44
- Nifty rose 0.72% to settle at 23,332.35
- Top-performing sectors: Realty, Banks, Financial Services
- Midcap & Smallcap stocks outperformed the broader market
- Rupee remains flat near 85.47
- India’s manufacturing PMI hits an 8-month high
