SENSEX surges 1,750 points, NIFTY50 reclaims 23,300: Top factors behind market rally

Indian equities staged a sharp rebound on Tuesday, reclaiming most of their losses from April 2 on the back of global optimism triggered by tariff rollbacks from the United States. The SENSEX surged as much as 1,750 points to hit an intraday high of 76,907.63, while the NIFTY50 jumped 540 points to touch 23,368.35.

The rally comes on the back of easing trade tensions and strong buying across key sectors.

The SENSEX ended 1,577.63 points higher at 76,734.89 and NIFTY50 index advanced 500 points or 2.19% to close at 23,328.55.

Tariff relief sparks global rally

Investor sentiment got a significant boost after the US rolled back a large portion of its proposed tariffs. The Trump administration announced a 90-day pause on steep import duties, excluding China, and exempted electronics including smartphones and computers, fuelling optimism across global equity markets.

Auto stocks zoom on hopes of tariff easing

Auto counters led the rally, with Tata Motors, Samvardhana Motherson and Sona BLW rising between 4-8%. President Donald Trump on Monday hinted at leniency for automakers trying to shift production to the US, stating they needed “a little bit more time” to transition from sourcing parts from Mexico and Canada, which together account for 30–60% of US vehicle supply.

Tata Motors was the top gainer on NIFTY50, rallying over 5% to ₹724, while Samvardhana Motherson climbed over 7.

Asian markets rise on tariff optimism

Major Asian indices extended gains following Wall Street’s rally. Japan’s Nikkei rose 1.2%, Taiwan Weighted jumped 2.78%, while Australia’s ASX200 and Hong Kong’s Hang Seng were also trading higher. Markets are betting on further exemptions to the US tariff measures.

Broad-based buying interest

Back home, bullish sentiment was seen across all sectors. The NIFTY Realty index surged over 4%, while Bank, Financial Services, Auto, Metal, Pharma, and IT indices gained between 1% and 3%.

The broader markets were equally buoyant with the NIFTY Midcap 100 rising 2.07% and the Smallcap 100 advancing 2.64%.

Heavyweights drive the rally

HDFC Bank, ICICI Bank, L&T, Reliance Industries, Bharti Airtel, and Axis Bank were top movers in the SENSEX they alone added over 1,000 points to the benchmark index.

The overall market breadth on the BSE was positive, with 3,077 stocks advancing against 546 declines, a clear indicator of strong participation.

NIFTY50 top gainers & losers

Tata Motors was top gainer in the NIFTY50 index, the stock rose over 5% to ₹724. IndusInd Bank, L&T, M&M, Shriram Finance, Adani Ports, HDFC Bank and Trent also rose between 3.4% to 5%.

On the flipside, Hindustan Unilever, Nestle, and ITC were among the few laggards in the NIFTY50 index.