21 hours Ago
The benchmark indices closed higher on Wednesday, rebounding from the previous day’s losses as investors appeared to reassess the potential impact of US President Donald Trump’s anticipated reciprocal tariffs announcement. The BSE Sensex surged 592.93 points or 0.
78 per cent to close at 76,617.44, while the NSE Nifty climbed 166.65 points or 0.
72 per cent to end at 23,332.35. The market opened flat but gained momentum throughout the day, with buying interest seen across most sectors.
The realty sector emerged as the top performer, rallying over 3.35 per cent amid growing expectations of an interest rate cut in the upcoming RBI monetary policy meeting next week. “Today, the benchmark indices witnessed a recovery rally, with the Nifty ending 167 points higher, while the Sensex was up by 593 points.
Among sectors, most of the major sectoral indices traded in positive territory, but the realty index outperformed, rallying over 3.35 per cent,” said Shrikant Chouhan, Head Equity Research, Kotak Securities. The market breadth was decisively positive, with 2,863 stocks advancing against 1,091 declines on the BSE, while 131 remained unchanged.
Sixty-four stocks reached their 52-week highs, while 85 touched their 52-week lows. Nine stocks hit the upper circuit, and seven hit the lower circuit. Among top gainers on the NSE, Tata Consumer Products led the pack with a 6.
91 per cent jump to ₹1,060.80, followed by Zomato which surged 4.80 per cent to ₹211.
70. Titan Company rose 3.86 per cent to ₹3,102.
30, while IndusInd Bank gained 2.97 per cent to ₹703.00, and Tech Mahindra added 2.
10 per cent to ₹1,424.50. On the losing side, Bharat Electronics Ltd (BEL) was the top loser, falling 3.
27 per cent to ₹282.45. Nestle India declined 1.
22 per cent to ₹2,206.70, while UltraTech Cement dropped 0.91 per cent to ₹11,275.
00. Bajaj Finserv and Power Grid Corporation fell 0.81 per cent and 0.
78 per cent, respectively. The broader market outperformed the benchmark indices, with the Nifty Midcap 100 index surging 1.61 per cent to 52,053.
20, and the Nifty Smallcap 100 gaining 1.12 per cent. The Nifty Bank index rose 1.
02 per cent to 51,348.05, while the Nifty Financial Services index added 0.90 per cent to 24,750.
05. “Despite mixed global cues surrounding the impending US tariffs, the domestic market experienced steady gains. This optimism was largely driven by expectations that the tariffs would have minimal impact on the domestic economy, given the positive progress in India-US trade negotiations,” said Vinod Nair, Head of Research, Geojit Investments Ltd.
Trading volumes were notably subdued, with NSE cash market volumes down 7 per cent from the previous day, hitting their lowest point since March 17, 2025, according to Nandish Shah, Deputy Vice-President, HDFC Securities. Technical analysts pointed to positive chart patterns forming on the daily timeframe. “Following a recent correction, the index appears to be finding support around the critical 50 EMA on the daily timeframe.
Additionally, the index has been holding above the falling trendline breakout point. A bullish Harami candlestick pattern has formed on the daily chart, suggesting a potential price recovery in the short term,” said Rupak De, Senior Technical Analyst at LKP Securities. The Indian rupee remained relatively flat, closing at 85.
50 against the US dollar. “The rupee remained flat near 85.47, as markets awaited US reciprocal tariff measures and their potential impact on the global economy.
The focus now shifts to Trump’s Labor Day speech, where he is expected to address tariff policies as a solution to US economic challenges,” noted Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities. In the commodities space, gold prices remained volatile, hovering around $3,130 in Comex and ₹91,000 on MCX. “Safe-haven buying was evident as concerns grew over a potential economic slowdown if major tariff changes were implemented by the US on other nations,” Trivedi added.
Market sentiment was further bolstered by positive economic data, particularly India’s manufacturing PMI for March, which reached an eight-month high, suggesting a potential recovery in Q4FY25 corporate earnings. Looking ahead, market participants remain cautious about Trump’s tariff announcement scheduled for later tonight (1.30 AM IST, Thursday).
“Trump plans to roll out tariffs on global trading partners during an event planned for 4:00 pm Wednesday (1:30 AM IST, Thursday) in the White House Rose Garden, to bring back manufacturing to the US and reshape a world trade system he has long decried as unfair,” said Shah from HDFC Securities. “Trump’s decision on reciprocal taxes introduces a new wave of uncertainty in global trade dynamics. For India, this could mean short-term volatility in equity markets, especially in export-driven sectors such as automobiles, pharma and IT,” cautioned Amit Jain, Co-Founder of Ashika Global Family Office Services.
Despite these concerns, most analysts maintained a cautiously optimistic outlook. “We believe the current breather should be used as a buying opportunity in quality stocks in a staggered manner,” advised Bajaj Broking Research, suggesting key support levels for Nifty at 23,000-22,800 and potential resistance at 23,869. Comments.
