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Stock Market Today: Sensex, Nifty settle higher ahead of US tariff announcements

Mumbai: The BSE Sensex made a comeback 592.93 points to close at 76,617.44 on April 2, 2025, Wednesday. The NSE Nifty jumped 166.65 points to end at 23,332.35. The stock markets recovered on strong macro data and investors pumping in money to purchase equities. The indices had plunged on Tuesday ahead of US tariff announcements.

Buying was reported in select auto, banking and IT shares. Also, growth in India’s manufacturing sector in March, powered lifted the sentiments of investors.

Sensex pack Gainers: Zomato jumped nearly 5 per cent, Titan gained almost 4 per cent. Other gainers included, HDFC Bank, Tech Mahindra, Adani Ports, IndusInd Bank, Maruti, and Bharti Airtel. Laggards included, UltraTech Cement, Bajaj Finserv, Larsen & Toubro, Nestle, and Power Grid.

“This optimism was largely driven by expectations that the tariffs would have a minimal impact on the domestic economy, given the positive progress in India-US trade negotiations. Sentiments were further reinforced by India’s manufacturing PMI for March, which reached an eight-month high, hinting at a recovery in Q4FY25 corporate earnings,” Vinod Nair, Head of Research, Geojit Investments Limited, said.

The Sensex rebounded 256.82 points to 76,281.33 in early trade today. The Nifty climbed 84.9 points to 23,250.60. The stock market benchmark indices rebounded after plummeting on Tuesday. There was buying in blue-chip stocks such as HDFC Bank and ICICI Bank.

Tokyo and Shanghai settled in the positive territory while Hong Kong and Seoul closed lower. The US stock markets settled mostly higher on Tuesday. The global oil benchmark Brent crude appreciated 0.03 per cent to USD 74.51 a barrel.

According to exchange data, Foreign Institutional Investors (FIIs) sold equities worth Rs 5,901.63 crore on Tuesday. Domestic Institutional Investors (DIIs) purchased equities worth Rs 4,322.58 crore.

“The element of uncertainty regarding reciprocal tariffs is expected to come down with the tariff declaration today. But considering Trump’s flip flops on tariffs earlier, the uncertainty is likely to continue beyond today,” VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said.

“The short-covering which FII buying triggered contributed to India’s outperformance in March. Now with FIIs selling for Rs 10,255 crore in the cash market in two days, the shorting has resumed. This was reflected in the 353 point sharp cut in Nifty yesterday,” Vijayakumar added.

The BSE Sensex tanked 1,390.41 points to end at 76,024.51 on Tuesday. The Nifty went down  353.65 points to 23,165.70.

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