Mumbai, April 15 : Indian stock markets continued their rally for the second consecutive session on Tuesday, buoyed by positive global cues following US President Donald Trump’s announcement of tariff exemptions on certain electronic goods and his indication of a potential review of auto industry tariffs. The broader market responded with enthusiasm as the Sensex surged by 1,578 points and the Nifty climbed by 500 points.
The rebound in domestic equities came after steep declines seen earlier this month when Trump initially announced retaliatory tariffs. With the recent relief, both benchmark indices have now recovered their losses.
The 30-share BSE Sensex ended 2.10 percent higher at 76,734.89, gaining 1,577.63 points. During the session, it jumped as much as 1,750 points. The broader NSE Nifty also rallied 2.19 percent to close at 23,328.55, after briefly rising over 539 points intraday.
All sectoral indices on the BSE ended in the green. The realty, automobile, capital goods, and industrial segments saw gains of up to five percent. IndusInd Bank led the rally among Sensex stocks with a 6.84 percent rise, followed by Tata Motors which gained 4.50 percent. Other major gainers included Larsen & Toubro, Axis Bank, Adani Ports, HDFC Bank, ICICI Bank, and HCL Tech.
Only two companies on the Sensex — ITC and Hindustan Unilever — ended in the red.
The market cheer was largely attributed to Trump’s statement suggesting temporary tariff relief for smartphones, computers, and other electronics, as well as a possible exemption for the automotive sector. These developments injected fresh optimism into equity markets across the globe.
Vinod Nair, Head of Research at Geojit Financial Services, remarked that the sudden relief on retaliatory duties sparked market enthusiasm. He noted that the electronics tariff relief sustained the momentum, while expectations of interest rate cuts helped lift banking stocks.
He added that while investors are closely watching quarterly earnings, expectations remain modest. However, the RBI’s accommodative stance and the ongoing global rebound continue to support investor confidence.
Mid- and small-cap stocks also saw robust buying, with the BSE Smallcap index rising 3.21 percent and the Midcap index gaining 3.02 percent. Out of 4,256 stocks traded on the BSE, 3,302 advanced, 785 declined, and 169 remained unchanged.
According to Satish Chandra Aluri of Lemon Markets Desk, the sharp rally was driven by reduced tariff uncertainty and a more favorable global trade environment following the US tariff rollback on electronics and smartphones.
Asian markets also closed on a positive note, with indices in South Korea, Japan, China, and Hong Kong all trading in the green. European markets were also higher in afternoon trade, and US indices had closed in the green on Monday.
Meanwhile, wholesale inflation in India eased to 2.05 percent in March from 2.38 percent in February, according to official data.
On the foreign investment front, data showed that foreign institutional investors offloaded shares worth ₹2,519.03 crore on Friday. Global oil benchmark Brent crude declined by 0.52 percent to $64.54 per barrel.
The Sensex had previously gained 1,310 points on Friday, while the Nifty had climbed by 429 points.
