Overcoming early losses triggered by weak global cues, the Nifty 50 closed on a positive note on the monthly F&O expiry day.
The index opened lower at 23,434, reflecting the overnight selloff in the US markets after President Donald Trump announced a 25% tariff on imported cars and key auto parts. This policy shift led to a sharp decline in US equities, which, in turn, impacted Indian markets, dragging the Nifty to an intraday low of 23,412 in opening hours. However, the index recovered to end the day near the 23,600 mark at 23,591.95, gaining 105.10 points or 0.45%.
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The Sensex opened 200 points lower, but erased early losses and closed 317.93 points, or 0.41%, higher at 77,606.43. The broader indices, BSE Midcap and BSE Smallcap, gained 0.46% and 0.90%, respectively, snapping a two-day losing streak.
“Domestic indices maintained optimism throughout the day, driven by sustained foreign fund inflows and the purchase in bluechip stocks. However, the 25% tariff on auto imports imposed by Trump has affected auto stocks and raised concerns within the pharma sector,” said Vinod Nair, head of research, Geojit Investments.
The overall market breadth was negative, with 2,349 losers against 1,699 gainers.
Barring auto and pharma, all sectors ended with gains, with public sector banks, IT, oil & gas, realty and media emerging as top performers.
Investors’ wealth rose by Rs 3.10 lakh crore to Rs 414.72 lakh crore.
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With a 5.56% decline, Tata Motors was the top Sensex laggard, bearing the brunt of selling pressure following tariff announcement on auto imports. Other top Sensex losers included Sun Pharma, Kotak Mahindra Bank, Bharti Airtel and HCL Tech.
On the other hand, Bajaj Finserv, IndusInd Bank, NTPC, L&T, and UltraTech Cement were among major gainers in the Sensex pack, rising up to 3.23%.
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