Markets surge green despite Trump tariff jitters
The stock market opened higher on Wednesday, April 2, with gains in IT, healthcare, consumer durables, and FMCG stocks. At 9:15 am, the BSE Sensex rose 121.74 points (0.16%) to 76,146.25, while the NSE Nifty gained 36.50 points (0.16%) to 23,202.20. This surge came ahead of US President Donald Trump’s reciprocal tariffs, set to take effect at 4 pm New York time (1:30 am IST Thursday).
Axis Bank led the Sensex gainers, rising 1.13% to ₹1,097.60, followed by Tata Motors (0.74% up at ₹676.40) and Bajaj Finserv (0.68% up at ₹1,949.70). Only five Sensex stocks traded in the red.
Sectoral Performance
Nifty Midsmall IT & Telecom and Consumer Durables indices gained the most, rising 0.39% to 9,140.95 and 34,896.80, respectively. Nifty Midsmall Healthcare followed, climbing 0.37% to 40,205.90, while Nifty FMCG advanced 0.35% to 53,286.60.
Only two sectors saw declines. Nifty Oil & Gas dropped 0.16% to 10,541.35, while Nifty Media fell 0.08% to 1,507.10. Oil & Gas stocks slipped as Brent crude rose slightly by 0.01% to $74.50 (June futures), and WTI crude increased 0.04% to $71.23 (May futures).
Previous Session Recap
On April 1, the market suffered heavy losses. Sensex plunged 1,390.41 points (1.80%) to 76,024.51, while Nifty dropped 353.65 points (1.5%) to 23,165.70.
“Expect the index to hold support at 22,800,” said Kunal Kamble, Senior Technical Research Analyst at Bonanza. Akshay Chinchalkar, Head of Research at Axis Securities, added, “Nifty’s drop has delayed the tactical bull case but hasn’t negated it. Key support lies in the 23,090 – 23,141 zone, with a major threshold at 22,800 – 22,900.”
HCL Technologies led the previous session’s losers, falling 3.87% to ₹1,529.45. Bajaj Finserv followed with a 3.46% drop to ₹1,936.50, while HDFC Bank declined 3.35% to ₹1,767.30. IndusInd Bank was the only major gainer, climbing 5.11% to ₹682.75.
Institutional Investors
Foreign Institutional Investors (FIIs) sold ₹5,901.63 crore in equities, while Domestic Institutional Investors (DIIs) purchased ₹4,322.58 crore worth of stocks.
The market’s performance now hinges on global cues, tariff impact, and investor sentiment in the coming sessions.
