Stock Market Today, April 02: Nifty 50, Sensex Bounce Back Ahead
Stock Market Today: Indian markets recovered from the worst intraday loss in a month to close higher on Wednesday, April 2. Frontline indices recorded solid gains because to a robust recovery in the technology sector and a strong rally in finance sectors.
The Sensex increased 0.78% to settle at 76,617 points, while the Nifty 50 ended the session up 0.72%, closing at 23,332 points. With the Nifty Midcap 100 index closing at 52,025 points, a 1.61% increase from the previous close, the wider markets also recovered strength.
Similarly, the Nifty Small Cap 100 index closed at 16,162 points after a robust 1.12% increase.
In today’s session, all 13 major sectoral indices finished in positive territory as part of a broad-based recovery. Nifty Realty led the gains with a 3.63% surge, followed by Nifty Consumer Durables and Nifty FMCG, both rising by over 1%.
Other indices, including Nifty Auto, Nifty Pharma, Nifty IT, Nifty Metal, Nifty Media, and Nifty Oil & Gas, also recorded gains, ranging from 0.22% to 0.8%.
President Trump to Impose New Tariffs: 25% Auto Import Tariff Takes Effect Tomorrow
Reciprocal Tariffs
Global investors remained attentive to developments from the White House, anticipating the long-awaited announcement on reciprocal tariffs, which would outline the affected sectors, countries, and tariff sizes later in the day, as promised by U.S. President Donald Trump.
What are Reciprocal tariffs?
Since taking office in January, Trump has imposed several tariffs on key U.S. trading partners, including China, Canada, and Mexico. The upcoming reciprocal tariffs could expand this list, aiming to reduce the trade deficit. Despite warnings from global agencies about potential economic repercussions, Trump has continued using tariffs as a trade strategy.
Experts warn that these measures could impact the global economy, prompting retaliatory tariffs from affected nations. The White House confirmed on Tuesday that the reciprocal tariffs would take effect immediately following Trump’s announcement, with a 25% tariff on auto imports set for April 3.
Ahead of the announcement, the latest review by the U.S. Trade Representative (USTR) highlighted that India imposes steep tariffs and regulatory barriers on U.S. imports, particularly in agriculture, pharmaceuticals, medical devices, and digital services. Trump, who has often called India the “tariff king” due to its high duties on U.S. goods, expressed confidence that New Delhi would “significantly cut tariffs” before the April 2 deadline.
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