Sensex Rebounds Ahead Of Liberation Day

Mumbai: Stock markets rebounded on Wednesday with BSE benchmark Sensex closing higher by nearly 593 points on strong macro data and value buying in banking and auto shares after recent free fall, even as investors awaited US tariff announcements that are expected later in the day.

The 30-share BSE Sensex rebounded 592.93 points or 0.78 per cent to settle at 76,617.44 points. During the day, it surged 655.84 points or 0.86 per cent to 76,680.35 points. NSE Nifty climbed 166.65 points or 0.72 per cent to 23,332.35 points. Value buying in select auto, banking and IT shares, and India’s manufacturing sector growth rising to an eight-month high in March powered the recovery in the domestic stock markets.

“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 (research), Geojit Investments Ltd.

All BSE sectoral indices ended higher. The BSE midcap gauge jumped 1.38 per cent and smallcap index climbed 0.99 per cent.

“Trump’s decision on reciprocal taxes introduces a new wave of uncertainty in global trade dynamics. For India, this could mean short-term volatility in equity markets, especially in export-driven sectors like Automobile, Pharma and IT. While selective large-cap stocks from these sectors may face pressure due to tariffs headwinds, India’s strong domestic consumption story remains intact, offering resilience,” added Amit Jain, Co-Founder of Ashika Global Family Office Services.