Markets continue to trade higher amid US tariff exemption

Indian bourses continued to trade higher in late afternoon session, tracking broadly positive global cues. The market turned jubilant after US announced reciprocal tariff exemption of smartphones, computers and other devices and components which uplifted the trading sentiments. Meanwhile, domestic investor sentiments remained optimistic as India’s WPI inflation in the month of March eased to 2.05% as against 2.38% in February as prices of crude petroleum & natural gas, non-food articles and food articles decline in the period. However, gains remained capped as some uncertainty prevailed among market participants amid some reports indicated that the U.S. was kicking off investigations into imports of pharmaceuticals and semiconductors as part of a bid to impose tariffs.

On the global front, all Asian equity markets were trading higher tracking positive cue from Wall Street. European equity markets were trading higher after U.S. President Donald Trump stated that he was considering a modification to the 25 percent tariffs imposed on foreign auto and auto parts imports from Mexico, Canada and other countries.

The BSE Sensex is currently trading at 76713.75, up by 1556.49 points or 2.07% after trading in a range of 76435.07 and 76907.63. There were 28 stocks advancing against 2 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index up by 2.47%, while Small cap index was up by 2.96%.

The top gaining sectoral indices on the BSE were Realty up by 5.07%, Auto up by 3.38%, Industrials up by 3.37%, Capital Goods up by 3.24% and Consumer discretionary up by 2.93%. Meanwhile, there were no losers on BSE sectoral index.

The top gainers on the Sensex were Indusind Bank up by 6.93%, Larsen & Toubro up by 4.37%, Tata Motors up by 4.17%, Axis Bank up by 4.03% and Adani Ports up by 3.93%. On the flip side, ITC down by 0.31% and Hindustan Unilever down by 0.19% were the only losers.

Meanwhile, amid fall in prices of crude petroleum & natural gas, non-food articles and food articles, inflation based on wholesale price index (WPI) in India eased in the month of March to 2.05% as against 2.38% in February. 

The Component wise, primary articles index, having weight of 22.62%, decreased by 1.07% to 184.6 (provisional) in March 2025 from 186.6 (provisional) for the month of February 2025, as the prices of crude petroleum & natural gas, non-food articles and food articles decreased. However, the price of minerals increased in the reported month. 

Fuel & Power index, having weight of 13.15%, decreased by 0.91% to 152.4 (provisional) in March 2025 from 153.8 (provisional) for the month of February 2025, on account of decline in prices of electricity and mineral oils. However, the price of coal remained same as in the previous month. 

Further, Manufactured Products constituting the major portion of the index with weight of 64.23%, increased by 0.42% to 144.4 (Provisional) in March 2025 from 143.8 (Provisional) for the month of February 2025. Meanwhile, for the month of January, 2025, the final Wholesale Price Index and inflation rate for 'All Commodities' (Base: 2011- 12=100) stood at 155.0 and 2.51% respectively.

The CNX Nifty is currently trading at 23315.85, up by 487.30 points or 2.13% after trading in a range of 23207.00 and 23368.35. There were 48 stocks advancing against 2 stocks declining on the index.

The top gainers on Nifty were Indusind Bank up by 6.86%, Shriram Finance up by 4.82%, Larsen & Toubro up by 4.45%, Tata Motors up by 4.17% and Adani Enterprises up by 4.14%. On the flip side, Hindustan Unilever down by 0.23% and ITC down by 0.18% were the only losers.

All Asian markets are trading higher; Hang Seng advanced 48.87 points or 0.23% to 21,466.27, Jakarta Composite gained 45.56 points or 0.71% to 6,414.08, KOSPI increased 21.52 points or 0.87% to 2,477.41, Nikkei 225 surged 285.18 points or 0.83% to 34,267.54, Taiwan Weighted added 344.58 points or 1.74% to 19,857.67, Straits Times rose 66.57 points or 1.88% to 3,615.48 and Shanghai Composite strengthened 4.85 points or 0.15% to 3,267.66.

European markets were trading higher; UK’s FTSE 100 increased 82.78 points or 1.01% to 8,217.12, France’s CAC rose 39.84 points or 0.54% to 7,312.96 and Germany’s DAX gained 299.41 points or 1.41% to 21,254.24.