After two days of losses, the Nifty and Sensex bounced back with strong gains on Tuesday, fueled by a rebound in banking and IT stocks. This rally comes just ahead of the April 2 tariff deadline announced by US President Donald Trump, which the White House has confirmed will take immediate effect.
By the close of trading, the Sensex had gained 592.93 points, or 0.78 per cent, reaching 76,617.44, while the Nifty added 166.65 points, or 0.72 per cent, closing at 23,332.35. Market breadth was positive, with 2,755 stocks advancing, 1,048 declining, and 130 remaining unchanged.
The top gainers on the Nifty were Tata Consumer Products, Zomato (Eternal), Titan Company, IndusInd Bank, and Tech Mahindra, all posting strong gains. On the flip side, Bharat Electronics, UltraTech Cement, Power Grid Corp, Nestle, and Hindalco emerged as the major laggards, reflecting notable declines.
Broader Market Update
The broader market also reflected this bullish trend, with the Nifty Midcap 100 rising 1.61 per cent and the Smallcap 100 climbing 1.2 per cent. Despite recent corrections of 9 per cent and 14 per cent in these indices, analysts caution that high valuations could still pose potential downside risks.
Also Read: Donald Trump To Reveal Fresh Country-Specific Tariffs, See When He Will Make The Announcement
Sectorial Update
Sectoral indices saw broad-based gains, with Nifty FMCG, Bank, IT, and Auto emerging as the top performers, each rising by up to 1 per cent. The rally in the banking sector was driven by strong contributions from HDFC Bank, ICICI Bank, and SBI, which helped lift the index.
Following closely, the Nifty Infra, Metal, Pharma, and PSU Bank sectors each posted gains of around 0.5 per cent. The Nifty Oil & Gas index, which had been down about 0.4 per cent in the afternoon, managed to recover and ended the day with a modest gain of 0.2 per cent.
Notably, all 13 sectoral indices closed the session in the green, reflecting a strong, broad-based market recovery.
