Sensex, Nifty close higher ahead of 'Liberation Day'; analysts on impact of April 2 tariffs 

Sensex and Nifty closed higher on Wednesday ahead of US President Donald Trump set to announce a slew of 'reciprocal' tariffs on trading partners. The impact of Trump's announcements will be felt on Indian, US, Asian and European markets on Thursday. Trump has pegged April 2 as "Liberation Day", when he plans to impose an array of new tariffs that could intensify the trade war with the country's trading partners.

Meanwhile, investor wealth rose by Rs 3.51 lakh crore to Rs 412.98 lakh crore today against Rs 409.47 lakh crore in the previous session. Sensex climbed 593 points to 76,617 and Nifty rose 162 points to close at 23,332 

Stocks such as Zomato, Titan, Asian Paints, IndusInd Bank, Maruti, Tech Mahindra, Adani Ports and  Bharti Airtel were the top Sensex gainers. Of 30 Sensex stocks, 19 ended in the green. 

Prashanth Tapse, Senior VP (Research), Mehta Equities said, “The market seems to be coming to terms about the outcome of Trump's tariff policy decision, and hence buying was evident across all the sectors. Post the clarity on tariff decision, the focus will then shift to fourth quarter earnings and the interest rate decision by the RBI next week.”

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities said, "Wednesday's market action signals possible formation of higher bottom at 23,136 levels. However, tomorrow's event of US President Donald Trump's tariff decision on India could possibly result in extreme opening of Indian markets on Thursday, on either side. Immediate support is at 23,100 and the next overhead resistance to be watched at 23,400 and 23,650 levels respectively."

Ajit Mishra – SVP, Research, Religare Broking said, "Markets will react to the announcement of reciprocal tariffs and the initial response from global markets, which could influence sentiment. Additionally, the scheduled weekly expiry may add to the volatility. We recommend a cautious stance and favour a hedged approach until there is greater clarity on the index’s next directional move. However, stocks continue to offer trading opportunities on both sides, and participants should position themselves accordingly."

Aditya Gaggar, Director of Progressive Shares said, " The index closed with a strong bullish candle, suggesting that it may be forming the right shoulder of an Inverted Head and Shoulders pattern. Strong support is seen at the 50DMA level of 23,000, while immediate support and resistance are at 23,160 and 23,430, respectively."

As many as 64 stocks hit their 52-week highs today. On the other hand, 85 shares fell to their 52-week lows on BSE. 

BSE midcap index rose 527 pts to 39,891. BSE small cap stock index too climbed 899 pts to 44,733 level. 

Out of 4085 stocks traded, 2863 stocks were in the green on BSE. Around 1091 stocks were in the red while 131 stocks remained unchanged.

Around 7 stocks hit their lower circuits even as the stock market saw a strong rally today. On the other hand, 9 shares hit their upper circuit limits amid bullish sentiment on BSE and NSE.

Previous Session 

Sensex tanked 1,390 pts to close at 76,024 and Nifty slipped 353 points to 23,165 on Tuesday. Investor wealth declined to Rs 409.47 lakh crore compared with a valuation of Rs 412.87 lakh crore recorded on Monday.