Indian Stock Market Celebrates US Tariff Relief; Sensex Surges 1,578 Points

Synopsis

On April 15, Mumbai's stock market witnessed a significant rally as the Sensex surged 1,578 points following the US administration's announcement of 90-day tariff relief, with positive investor sentiment further boosted by potential automotive sector relief.

Key Takeaways

Sensex rose 1,578 points due to US tariff relief.
Strong performance in private banks and metals sectors.
Nifty also saw a significant increase, closing up 500 points.
Global rebound in markets influenced investor sentiment.
Indian rupee strengthened against the US dollar.

Mumbai, April 15 (NationPress) The Indian stock market experienced a significant rally on Tuesday as key indices soared in response to the 90-day reciprocal tariffs relief announced by the US government, with similar concessions expected for the automotive industry.

The Sensex commenced trading with a notable leap of nearly 1,700 points, reaching 76,852, and quickly peaked at an intra-day high of 76,908. The index then traded within a tight range near its highest point, bolstered by robust buying activity in private banking, metals, IT, and infrastructure sectors.

By the session's conclusion, the Sensex achieved a remarkable increase of 1,578 points, or 2.1 percent, closing at 76,735. Among the major contributors, HDFC Bank, ICICI Bank, and Axis Bank combined to account for nearly half of the day's gains, adding approximately 750 points to the overall surge.

In a similar trend, the Nifty opened at its daily high of 23,368 and settled slightly lower at 23,329, marking an increase of 500 points or 2.2 percent for the day.

International markets, especially in the US, have recently experienced a notable recovery, primarily driven by expectations that President Donald Trump may announce additional tariff exemptions, which has positively impacted investor sentiment globally.

“Markets are adapting to the new reality of President Trump’s daily surprises,” commented Vikas Gupta, CEO and Chief Investment Strategist at OmniScience Capital. He noted that markets tend to react positively when tariffs appear to be temporarily lifted, but can respond negatively to unexpected developments.

Among the top-performing stocks on the Nifty were IndusInd Bank, Shriram Finance, Larsen & Toubro, Tata Motors, and Axis Bank.

Broader market indices, such as the Nifty 500, Midcap, and Small Cap indices, also traded strongly in positive territory.

Sectoral leaders included Realty, Automobiles, Metals, Financial Services, and Media.

“The optimism was further fueled by reports suggesting that President Trump is contemplating similar tariff relief measures for the automotive sector,” said Sundar Kewat of Ashika Institutional Equity.

The Indian rupee also appreciated against the US dollar, closing 28 paise higher at 85.77 compared to Friday’s closing rate of 86.05.