Benchmark stock market indices experienced a modest rebound following an earlier slump of over 1%, ultimately closing with slight gains as investors appeared to brush aside concerns related to the recent tariffs imposed by former U.S. President Donald Trump. The late-session recovery was largely supported by a rally in information technology and pharmaceutical stocks, which helped balance out the broader early-session losses.
By the end of the trading session, the S&P BSE Sensex recorded a rise of 79.27 points, settling at 80,623.26, while the NSE Nifty50 edged up by 21.95 points to finish at 24,596.15. Analysts attributed this recovery to improved market sentiment during the closing hours of trade, despite initial pressure triggered by steep tariff hikes from the U.S.
Vinod Nair, Head of Research at Geojit Financial Services, commented that domestic equities recovered sharply from their intraday lows despite a volatile day due to the weekly expiry. He noted that although early trade was negatively impacted by widespread selling sparked by the U.S. tariff hike, market mood turned more positive later in the day amid media reports hinting at possible peace talks involving Donald Trump, Russian President Vladimir Putin, and Ukrainian President Volodymyr Zelensky. These reports fostered hope for a more conciliatory U.S. trade approach.
On the list of top performers, Tech Mahindra stood out as the biggest gainer on the BSE Sensex, advancing by 1.68%. It was followed by HCL Technologies, which rose by 1.17%, Eternal with a 0.97% gain, Axis Bank with an increase of 0.85%, and Maruti Suzuki, which climbed 0.80%. Conversely, Adani Ports emerged as the biggest loser, sliding by 1.55%, trailed by Trent, which fell 1.06%, Tata Motors down by 0.85%, Hindustan Unilever declining 0.74%, and NTPC dropping by 0.69%.
In the broader market, the Nifty Midcap100 index saw an increase of 0.33%, while the Nifty Smallcap100 gained 0.17%. Meanwhile, market volatility eased as the India VIX — a measure of market fear — dropped by 2.27%.
Sector-wise, the Nifty Media index led the gains with a rise of 0.99%, followed by Nifty IT, which gained 0.87%, and Nifty Pharma, which climbed 0.75%. Other sectors that recorded gains included Nifty Healthcare, Nifty Consumer Durables, Nifty PSU Bank, Nifty Private Bank, Nifty Auto, Nifty Metal, Nifty FMCG, and Nifty Financial Services 25/50, all posting gains ranging from 0.07% to 0.61%.
On the other hand, the Nifty Oil and Gas index declined by 0.19%, and the Nifty Realty index slipped by 0.13%, reflecting some softness in those segments.
Reflecting on the day’s overall trend, Nair concluded that a renewed sense of optimism among investors spurred a strong rebound, particularly in sectors like auto, pharmaceuticals, metals, and energy. This late-day strength helped the market realign its trajectory and close on a positive note.
