Sensex Closes 318 Points Higher, While the Nifty is Barely Under 23,600

The NSE Nifty50 increased 105.10 points to close at 23,591.95, while the S&P BSE Sensex finished 317.93 points higher at 77,606.43. After a rocky start, benchmark stock market indexes staged a robust rebound and completed Thursday’s trading day on a high note. The NSE Nifty50 increased 105.10 points to close at 23,591.95, while the S&P BSE Sensex ended the day 317.93 points higher at 77,606.43.

The market experienced a robust comeback from lower levels following a slow start to the monthly expiry trading, according to Aditya Gaggar, Director of Progressive Shares. However, the index then oscillated in a narrow range before closing at 23,591.95 with gains of 105.10 points.

The most significant upside for investors was a decrease in volatility despite the US reciprocal tariff deadline of April 2, even if the majority of broader market indexes also increased throughout the session.

Progress in trade talks between the US and India, which aim to lessen the impact of tariffs on both sides, is responsible for this drop in volatility. The negotiations are going well for India, and if all goes according to plan, the US may impose lower tariffs on India than on China, Canada, and Mexico.

The final trade agreement is anticipated in three days. A positive result would help important industries with significant US exports, which might lift the stock market significantly.

However, the US slapped a 25% tariff on all automotive exports, making it difficult for automakers and auto part producers on Dalal Street. Tata Motors took a severe beating, and during the session, Ashok Leyland and Eicher Motors also saw declines.

Due to worries about Jaguar Land Rover’s (JLR) exports to the United States, Tata Motors’ stock dropped 5.5%. The session’s biggest gainers were Hero MotoCorp, Bajaj Finserv, IndusInd Bank, NTPC, and BPCL. Meanwhile, Bharti Airtel, Apollo Hospitals, Eicher Motors, Sun Pharma, and Tata Motors were the biggest losers.

With the formation of a Piercing candlestick pattern and the filling of the bullish gap zone, the Nifty50 Index has finished its corrective phase. The index may move toward the psychological level of 24,000 if it breaks over the immediate resistance level of 23,800. Support is located at 23,400 on the downside, according to Gaggar.

“Domestic indices maintained optimism throughout the day, driven by sustained foreign fund inflows and the purchase of blue-chip stocks,” stated Vinod Nair, Head of Research at Geojit Investments Limited. However, Trump’s 25% vehicle import duty has impacted auto stocks and sparked worries in the pharmaceutical industry.

“The market as a whole showed resilience in the face of these difficulties, helped by projections of double-digit profit growth in FY26, which are fueled by declining interest rates and reducing inflation, which are expected to strengthen domestic fundamentals. The US-India trade summit started on Wednesday and is the center of attention. Its goal is to provide more light on the two countries’ bilateral trade deal,” he continued.