90-day tariff pause: Here is how IT, metals, auto, and other sectors are performing today

The stock market investors saw their wealth go up by ₹6,21,384 crore on Friday after the SENSEX and NIFTY surged by as much as 1.99 per cent after US President Donald Trump on Wednesday, April 9, paused tariff implementation on most countries by 90 days.

US President Trump's decision to pause tariffs by 90 days sent markets across the world northbound on Wednesday, with US stocks rising 9.5%.

Back home, markets reacted positively on Friday with SENSEX rising nearly 1,500 points and NIFTY touching an intraday high of 22,874.45. India VIX, also known as the fear index, fell by nearly 10% to 19.33 giving a sigh of relief to the bulls.

IT, metal and auto shares were witnessing buying interest following President Trump's 90-day pause on reciprocal tariff implementation.

NIFTY Metal index was the top performer among the major sectoral gauges compiled by the National Stock Exchange. The measure of metal stocks on the NSE rose as much as 4.44% or 349 points with all the 15 shares in the index trading higher led by Lloyds Metals and Energy's nearly 6% gain. Hindalco (4.68%), Tata Steel (4.18%), JSW Steel (4.17%), Jindal Stainless (3.58%) and Apollo Tubes (3.55%) were also among top gainers in the NIFTY Metal index.

Analysts say that Indian metal companies are likely to benefit from relatively lower tariffs on India compared to China's massively higher tariff.

Pharma shares were witnessing buying interest with NIFTY Pharma index surging 2.34% after US tariff pause triggered buying interest in shares of drug makers. US is one of the biggest markets for Indian pharma companies outside of India. All the 20 shares in the NIFTY Pharma index were trading higher. Laurus Labs was top gainer in the NIFTY50 index, the stock rose nearly 5% to ₹592. Granules India (4.52%), Divi's Labs (3.32%), Biocon (3.25%), Aurobindo Pharma (3.18%) and Natco Pharma (2.90%) were also among the gainers.

NIFTY IT index rose 1.6% or 513 points to 33,030 on Friday. The index has been one of the worst performing sectors so far this year after staging a correction of nearly 25% so far this year. IT companies, which draw significant amount of revenues from the US, witnessed buying interest on hopes that fears of recession my be fading. All the 10 shares in the NIFTY IT index were trading higher led by Mphasis's 2.95% gain. HCL Tech, Oracle Financial Services Software, LTI Mindtree, Tech Mahindra and Persistent Systems were also among the gainers.

NIFTY Auto index rose 2.2% to 20,581 with all the 15 shares in the index trading higher. Auto companies with key focus on exports were witnessing strong buying interest in the wake of tariffs being postponed. Samvardhan Motherson was top gainer in the NIFTY Auto index, the stock rose nearly 5% to ₹118. Balkrishna Industries, Tata Motors, MRF, Mahindra & Mahindra and Bosch also rose between 2.25-3.5%.

Oil & gas shares were also witnessing buying interest following a drop in crude oil prices in the international markets. NIFTY Oil & Gas index surged 1.9% led by Gujarat State Petronet's 3.33% gain. Gujarat Gas, Reliance Industries, ONGC, Oil India, Mahangar Gas and GAIL India were also among the gainers.

Mid- and small-cap shares were also witnessing buying interest. NIFTY Midcap 100 index rose 1.71% and NIFTY Smallcap 100 index advanced 2.38%.

Among the individual shares, shares of diamond, gems, and jewellery companies soared on Friday after US President Donald Trump announced a pause of tariffs for most nations, including India, for 90 days.

Gold and diamond jewellery exporter Goldiam International's shares rose 19.34% to ₹325.15 apiece on the National Stock Exchange.

Gold refiner and manufacturer Rajesh Exports' stock climbed 2.16% to ₹186.12 per unit. Shares of Kalyan Jewellers, PC Jeweller, Titan Company and Thangamayil Jewellery advanced by 1.45%, 1.2%, 1%, and 5.88%, respectively.

Shares of shrimp producers Avanti Feeds jumped 6% and Apex Frozen Foods surged 5.24% following the tariff relief.