Indian stock markets end higher on global cues, US tech tariff relief boosts sentiment

MUMBAI: Indian stock markets on Tuesday ended on a strong note, driven by favourable global cues, particularly after the United States announced tariff exemptions for select technology products, boosting investor sentiment.

At the end of the trading session, the Nifty 50 at the National Stock Exchange (NSE) stood at 23,328.55, up 500 points or 2.19 per cent, while the BSE Sensex stood at 76,734.89, witnessing a strong uptick of 1,577.63 points or 2.10 per cent.

At BSE, the Midcap and smallcap indices also saw an upswing of about 3 per cent each.

Among sectoral performers, Realty, Automobiles, Metals, Financial Services, and Media emerged as the top gainers. While most sectors ended the session positively. Notably, after the initial surge, the Nifty remained range-bound throughout the day, reflecting a lack of directional momentum.

The stocks of IndusInd Bank, Shriram Finance, L&T, Tata Motors, and Axis Bank constitute the major gainers list, while the losers were HUL and ITC.

“The gap-up opening was largely driven by favourable global cues, particularly after the United States announced tariff exemptions for select technology products, boosting investor sentiment. Further optimism was fuelled by reports that President Trump is considering similar tariff relief for the automotive sector,” said Sundar Kewat, Technical and Derivatives Analyst, Ashika Institutional Equity – Ashika Stock Broking part of Ashika Group.

“After a 2 per cent gap-up opening, Nifty traded largely sideways during today’s session. Meanwhile, rising global tension and trade uncertainties are causing electronic brands to diversify their manufacturing bases, with India emerging as a key beneficiary,” said VLA Ambala, Co-Founder of Stock Market Today.

On the derivatives front, market breadth was decisively positive, with 221 stocks advancing and only 10 declining. Significant open interest buildups were observed in IREDA, ICICI Prudential Life, Inox Wind, Hindustan Zinc, and Lodha Group. Overall, despite the strong start, the market traded within a narrow range for the remainder of the session. (ANI)