Nifty 50, Sensex resume bull run after 1-day hiatus amid gains in financials; PSU banks top gainers | Stock Market News
Source: Live Mint
Stock market today: Indian markets, which opened lower on Thursday, March 27, tracking weak global cues, quickly reversed their losses as financial stocks led a rebound, bringing the frontline indices back into action after the sharp sell-off in the previous session.
The rebound in oil & gas, realty, and metal stocks has supported the indices, helping them stay higher, offsetting the underperformance in the auto sector after Donald Trump announced tariffs on all auto imports, effective April 2.
The Nifty 50 ended the session with a 0.51% gain, settling at 23,606 points, while the Sensex rose 334 points (0.43%), closing at 77,622 points. Broader markets also rebounded from their two-day slump, with the Nifty Midcap 100 index gaining 0.56% to close at 51,934, while its peer, the Nifty Smallcap 100, recorded a stronger gain of 1.19%, rebounding above 16,000 to settle at 16,127 points.
On Wednesday, Donald Trump announced a 25% tariff on auto imports on Wednesday, a move the White House claims would foster domestic manufacturing but could also financially strain automakers reliant on global supply chains.
The action came ahead of a broad array of additional levies expected to be revealed next week. Trump on Tuesday said these tariffs will likely be more “lenient than reciprocal,” reflecting a softened stance that added onto reports from earlier this week that the duties could be more narrow in scope and that sector-specific tariffs are expected to be delayed.
Uncertainty surrounding the scale of US tariffs, the possibility of retaliatory measures from trading partners, and the potential ripple effects on the global economy and businesses have kept investors on edge over the past month.
Meanwhile, to boost capital inflows, the Indian central bank is set to double the cap on investment by individual foreign investors in listed companies to 10%, according to two senior government officials and documents reviewed by Reuters.
