Indian Stock Market Update: Nifty Surges 166 Points, Sensex Climbs 592 Points

The Indian stock market witnessed a positive day as the Nifty 50 index ended 166 points higher at 23,332. The BSE Sensex also finished 592 points northward at 76,617, while the Bank Nifty index closed at 51,348, up 520 points. This resurgence was fueled by broad-based buying across sectors. However, trading volumes in the NSE cash market were notably subdued, down 7% from the previous day, hitting their lowest point since March 17, 2025. All sectoral indices closed in positive territory, with Nifty Realty, consumer durables, and FMCG leading the charge.

The Nifty Realty index saw a 3.6% jump, likely driven by growing expectations of a repo rate cut by the RBI in its upcoming monetary policy meeting next week, April 7-9. The impact of Trump's tariff decisions on US-India trade dynamics introduces a new wave of uncertainty in global trade.

For India, this could mean short-term volatility in equity markets, especially in export-driven sectors like automobiles, pharma, and IT. However, India's strong domestic consumption story remains resilient. Investors should brace for fluctuations but focus on long-term opportunities in sectors less impacted by global trade tensions.

Regarding the outlook for the Indian stock market today, Siddhartha Khemka, head of research—Wealth Management at Motilal Oswal, said that the Indian stock market is expected to remain volatile as it reacts to tariff announcements, taking cues from the initial response of the global markets. Nagaraj Shetti, senior technical research analyst at HDFC Securities, expressed that Wednesday's market action signals the possible formation of a higher bottom at 23,136. However, US President Donald Trump's tariff decision on India could result in the extreme opening of Indian markets on Thursday on either side. Immediate support for Nifty today is at 23,100, with overhead resistance to be watched at 23,400 and 23,650, respectively.