Mumbai– Indian stock markets posted robust gains on Tuesday, driven by optimism over the U.S. administration’s 90-day reciprocal tariff relief, with additional exemptions reportedly being considered for the automotive sector.
The BSE Sensex opened with a sharp spike of nearly 1,700 points at 76,852 and briefly touched an intraday high of 76,908. The benchmark index remained strong throughout the session, buoyed by sustained buying in private banking, metals, IT, and infrastructure stocks.
By the close, the Sensex had advanced 1,578 points, or 2.1%, to end at 76,735. Heavyweights HDFC Bank, ICICI Bank, and Axis Bank together contributed nearly 750 points to the rally, accounting for almost half of the day’s total gains.
The NSE Nifty followed suit, opening at its day’s high of 23,368 before settling slightly lower at 23,329, up 500 points or 2.2% for the day.
Investor sentiment also drew support from a broader rebound in global markets, especially in the U.S., amid speculation that President Donald Trump may announce further tariff rollbacks.
“Markets are adjusting to the new reality of daily Trump twists and turns,” said Vikas Gupta, CEO and Chief Investment Strategist at OmniScience Capital. “Markets respond positively to any sign of tariff relief, and conversely react sharply to negative surprises.”
Among the top performers on the Nifty were IndusInd Bank, Shriram Finance, Larsen & Toubro, Tata Motors, and Axis Bank.
Broader indices also registered strong gains, with the Nifty 500, Midcap, and Small Cap indices firmly in the green.
On the sectoral front, Realty, Automobiles, Metals, Financial Services, and Media led the rally.
“Further optimism was fuelled by reports that President Trump is considering similar tariff relief for the automotive sector,” noted Sundar Kewat of Ashika Institutional Equity.
Meanwhile, the Indian rupee also appreciated against the U.S. dollar, ending 28 paise higher at 85.77, compared to Friday’s closing rate of 86.05. (Source: IANS)
