Aniket PujariStock market today: Indian markets closed a highly volatile session on Tuesday, March 25, with modest gains, extending their winning streak to seven consecutive session. Markets opened on a strong note, tracking a sharp overnight rally in global markets, but quickly gave up early gains as weakness in banking, metals, and pharma weighed on the indices.
However, a strong uptrend in technology stocks provided support, helping the indices stay in positive territory. The broader market, however, slipped into red after witnessing strong buying interest in recent trading sessions. It was the small-cap stocks that took a heavy beating in trade.
Against this backdrop, the Nifty 50 tumbled 201 points from the day’s high to end the session with a mild gain of 0.04% at 23,668, while the Sensex wrapped up the session with a gain of 0.07%, plummeting 705 points to end at 76,035.
The Nifty Midcap 100 index closed the session with a 1.06% decline, while the Nifty Smallcap 100 index faced even heavier selling pressure, tumbling 1.56%.
Overnight, global markets ended sharply higher following reports that President Donald Trump’s tariffs might be more limited in scope and sector-specific duties may be postponed. On Monday, Trump stated that he may grant “a lot of countries” exemptions on reciprocal tariffs.
Additionally, Trump indicated that auto tariffs were imminent, but not all of the proposed levies would be imposed on April 2, and some countries may receive exemptions, which improved risk-on sentiment.
