The key equity indices traded in rangebound with moderate gains in mid-afternoon trade, supported by continuous foreign fund inflows and buying in blue-chip stocks, aiding the recovery in equities. The Nifty traded above the 23,600 level. The Nifty monthly futures and options (F&O) contracts are set to expire today.
Auto shares declined after U.S. President Donald Trump announced a 25% tariff on imported cars and light trucks, a move aimed at boosting domestic manufacturing. The tariff, set to take effect on April 3, is expected to increase costs for automakers and potentially dent sales.
At 14:25 IST, the barometer index, the S&P BSE Sensex, rallied 396.58 points or 0.51% to 77,684.54. The Nifty 50 index added 120.45 points or 0.51% to 23,607.30.
In the broader market, the S&P BSE Mid-Cap index shed 0.05% and the S&P BSE Small-Cap index added 0.50%.
The market breadth was negative. On the BSE, 1,631 shares rose and 2,333 shares fell. A total of 115 shares were unchanged.
Buzzing Index:
The Nifty Auto index declined 1.26% to 21,469.65. The index increased 0.02% in the past trading session.
Tata Motors (down 5.42%), Samvardhana Motherson International (down 3.39%), Ashok Leyland (down 2.27%), Bharat Forge (down 1.75%), MRF (down 1.04%), Mahindra & Mahindra (down 0.93%), Balkrishna Industries (down 0.84%), Eicher Motors (down 0.61%), Exide Industries (down 0.47%) and Maruti Suzuki India (down 0.06%) declined.
Numbers to Track:
The yield on India's 10-year benchmark federal paper advanced 1.45% to 6.698 as compared with the previous close of 6.707.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 85.8150, compared with its close of 85.7000 during the previous trading session.
MCX Gold futures for the 4 April 2025 settlement rose 0.47% to Rs 87,918.
The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.08% to 104.47.
The United States 10-year bond yield advanced 1.20% to 4.390.
In the commodities market, Brent crude for May 2025 settlement declined 21 cents or 0.28% to $73.58 a barrel.
Stocks in Spotlight:
BSE jumped 4.32% after the company said its board will consider a bonus share issue on 30 March 2025.
Dhruv Consultancy Services dropped 4.27%. The company announced that it has signed an agreement worth Rs 1.09 crore with Hindustan Construction Company (HCC) to providing design proof checking services for two-lane Bridge across Agardanda Creek in Maharashtra.