The Indian market ended in the green on Wednesday, rebounding from its steepest decline in a month, as buying in blue-chip heavyweights like HDFC Bank and ICICI Bank provided a boost, though gains were capped by uncertainty over the scale and impact of U.S. President Donald Trump's reciprocal tariffs.
The benchmark BSE Sensex added 592.93 points or 0.78% to close at 76,617.44, while the broader Nifty 50 index closed at 23,332.35, higher by 166.65 points or 0.72%.
Here's how analysts read the market pulse:
Despite mixed global cues surrounding the impending US tariffs, the domestic market experienced steady gains, said Vinod Nair, Head of Research at Geojit Investments, adding that this optimism was largely driven by expectations that the tariffs would have a minimal impact on the domestic economy, given the positive progress in India-US trade negotiations.
"Sentiments were further reinforced by India's manufacturing PMI for March, which reached an eight-month high, hinting at a recovery in Q4FY25 corporate earnings," said Nair.
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US markets
U.S. stock indexes recovered from morning losses to trade modestly higher on Wednesday as investors awaited U.S. President Donald Trump's sweeping tariff announcements.
Volatility has gripped U.S. markets in recent weeks as investors speculate about the scope of tariffs and their impact on the global economy, inflation and corporate earnings.
U.S. stocks have come under sharp selling pressure this year due to uncertainty around tariffs and concerns about aggressive AI spending by tech firms. The benchmark S&P 500 and the tech-heavy Nasdaq fell 10% from their record highs last month, confirming a correction.
European stocks
European shares fell on Wednesday, weighed by losses in healthcare stocks, as investors awaited tariff plans from U.S. President Donald Trump that some fear could slow global growth and boost inflation.
The pan-European STOXX 600 index closed 0.5% lower, with Germany's trade-sensitive DAX falling 0.7%.
European indexes have been volatile this week in anticipation of the announcement after Trump dampened hopes for more targeted levies. The STOXX 600 is hovering around two-month lows and is about 5.1% below its all-time high hit in March.
Tech View
The Nifty appears to be finding support around the critical 50 EMA on the daily timeframe, following a recent correction, said Rupak De, Senior Technical Analyst at LKP Securities, adding that “the index has been holding above the falling trendline breakout point. A bullish Harami candlestick pattern has formed on the daily chart, suggesting a potential price recovery in the short term.”
“On the lower end, 23,100 might remain a strong support level in the short term, below which weakness could increase. On the other hand, sustaining above 23,100 might provide momentum for a rally toward 23,800,” said De.
“As long as the market is trading above 23150/76000, the pullback formation is likely to continue. On the upside, the Nifty could move up to 23500/77000. A dismissal of 23500/77000 could push the market towards 23650/77500. Conversely, if the market falls below 23150/76000, selling pressure may intensify, and it could slip to the 23000-22950/75500-75300 range,” said Shrikant Chouhan, Head Equity Research at Kotak Securities.
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Most active stocks in terms of turnover
BSE (Rs 2,710 crore), Kalyan Jewellers India (Rs 1,915 crore), BEL (Rs 1,473 crore), Reliance Industries Ltd (Rs 1,269 crore), Zomato (Rs 1,236 crore), Bharti Airtel (Rs 1,124 crore) and ICICI Bank (Rs 1,070 crore) were among the most active stocks on BSE in value terms. Higher activity in a counter in value terms can help identify the counters with highest trading turnovers in the day.
Most active stocks in volume terms
Vodafone Idea (Traded shares: 92.21 crore), YES Bank (Traded shares: 6.78 crore), Central Bank of India (Traded shares: 6.27 crore), IDFC First Bank (Traded shares: 6 crore), Zomato (Traded shares: 5.94 crore), BEL (Traded shares: 5.26 crore) and Suzlon Energy (Traded shares: 4.95 crore) were among the most actively traded stocks in volume terms on NSE.
Stocks showing buying interest
Shares of Valor Estate, Kalyan Jewellers India, KPR Mill, Tata Consumer, Bombay Burmah Trading Corp, Godawari Power & Ispat and Shyam Metalics were among the stocks that witnessed strong buying interest from market participants.
52 Week high
Over 64 stocks hit their 52 week highs today while 85 stocks slipped to their 52-week lows.
Stocks seeing selling pressure
Stocks which witnessed significant selling pressure were Central Bank of India, AstraZeneca Pharma, RHI Magnesita India, Waaree Energies, Fortis Healthcare, UCO Bank and Bikaji Foods International.
Sentiment meter bullish
The market sentiments were bullish. Out of the 4,085 stocks that traded on the BSE on Wednesday, 1,091 stocks witnessed declines, 2,863 saw advances, while 131 stocks remained unchanged.
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(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
The benchmark BSE Sensex added 592.93 points or 0.78% to close at 76,617.44, while the broader Nifty 50 index closed at 23,332.35, higher by 166.65 points or 0.72%.
Here's how analysts read the market pulse:
Despite mixed global cues surrounding the impending US tariffs, the domestic market experienced steady gains, said Vinod Nair, Head of Research at Geojit Investments, adding that this optimism was largely driven by expectations that the tariffs would have a minimal impact on the domestic economy, given the positive progress in India-US trade negotiations.
"Sentiments were further reinforced by India's manufacturing PMI for March, which reached an eight-month high, hinting at a recovery in Q4FY25 corporate earnings," said Nair.
Also read | 5 Wall Street moguls who dismissed Bitcoin as a fad — Guess what they’re saying now!
US markets
U.S. stock indexes recovered from morning losses to trade modestly higher on Wednesday as investors awaited U.S. President Donald Trump's sweeping tariff announcements.
Volatility has gripped U.S. markets in recent weeks as investors speculate about the scope of tariffs and their impact on the global economy, inflation and corporate earnings.
U.S. stocks have come under sharp selling pressure this year due to uncertainty around tariffs and concerns about aggressive AI spending by tech firms. The benchmark S&P 500 and the tech-heavy Nasdaq fell 10% from their record highs last month, confirming a correction.
European stocks
European shares fell on Wednesday, weighed by losses in healthcare stocks, as investors awaited tariff plans from U.S. President Donald Trump that some fear could slow global growth and boost inflation.
The pan-European STOXX 600 index closed 0.5% lower, with Germany's trade-sensitive DAX falling 0.7%.
European indexes have been volatile this week in anticipation of the announcement after Trump dampened hopes for more targeted levies. The STOXX 600 is hovering around two-month lows and is about 5.1% below its all-time high hit in March.
Tech View
The Nifty appears to be finding support around the critical 50 EMA on the daily timeframe, following a recent correction, said Rupak De, Senior Technical Analyst at LKP Securities, adding that “the index has been holding above the falling trendline breakout point. A bullish Harami candlestick pattern has formed on the daily chart, suggesting a potential price recovery in the short term.”
“On the lower end, 23,100 might remain a strong support level in the short term, below which weakness could increase. On the other hand, sustaining above 23,100 might provide momentum for a rally toward 23,800,” said De.
“As long as the market is trading above 23150/76000, the pullback formation is likely to continue. On the upside, the Nifty could move up to 23500/77000. A dismissal of 23500/77000 could push the market towards 23650/77500. Conversely, if the market falls below 23150/76000, selling pressure may intensify, and it could slip to the 23000-22950/75500-75300 range,” said Shrikant Chouhan, Head Equity Research at Kotak Securities.
Also read | Explained: Why banks are flying gold worth billions from London to New York amid Trump tariff fears
Most active stocks in terms of turnover
BSE (Rs 2,710 crore), Kalyan Jewellers India (Rs 1,915 crore), BEL (Rs 1,473 crore), Reliance Industries Ltd (Rs 1,269 crore), Zomato (Rs 1,236 crore), Bharti Airtel (Rs 1,124 crore) and ICICI Bank (Rs 1,070 crore) were among the most active stocks on BSE in value terms. Higher activity in a counter in value terms can help identify the counters with highest trading turnovers in the day.
Most active stocks in volume terms
Vodafone Idea (Traded shares: 92.21 crore), YES Bank (Traded shares: 6.78 crore), Central Bank of India (Traded shares: 6.27 crore), IDFC First Bank (Traded shares: 6 crore), Zomato (Traded shares: 5.94 crore), BEL (Traded shares: 5.26 crore) and Suzlon Energy (Traded shares: 4.95 crore) were among the most actively traded stocks in volume terms on NSE.
Stocks showing buying interest
Shares of Valor Estate, Kalyan Jewellers India, KPR Mill, Tata Consumer, Bombay Burmah Trading Corp, Godawari Power & Ispat and Shyam Metalics were among the stocks that witnessed strong buying interest from market participants.
52 Week high
Over 64 stocks hit their 52 week highs today while 85 stocks slipped to their 52-week lows.
Stocks seeing selling pressure
Stocks which witnessed significant selling pressure were Central Bank of India, AstraZeneca Pharma, RHI Magnesita India, Waaree Energies, Fortis Healthcare, UCO Bank and Bikaji Foods International.
Sentiment meter bullish
The market sentiments were bullish. Out of the 4,085 stocks that traded on the BSE on Wednesday, 1,091 stocks witnessed declines, 2,863 saw advances, while 131 stocks remained unchanged.
Also read | At $165 billion, BYD is now bigger than India's top 5 automakers combined
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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