Stock Market Highlights: Markets end higher! Nifty, Sensex stable; Tariff trauma for auto continues

The NSE Nifty 50 closed 0.45% higher at 23,591.95, while the BSE Sensex closed 0.41% higher at 77,606.43.

The top gainers at this hour include Bajaj Finserv, IndusInd Bank, UltraTech Cement, NTPC and LT in the Sensex top 30 pack.

In the global markets, gold prices surged after former U.S. President Donald Trump announced a 25% tariff on imported cars and light trucks, set to take effect next week. The move intensifies the global trade war, raising concerns about retaliatory tariffs expected on April 2nd. Investors fear this could fuel inflation, slow economic growth, and escalate trade tensions. ” As apprehension over Trump’s policies lingers, central banks continue accumulating gold as a hedge against economic and geopolitical instability, sustaining strong demand for the precious metal,” said Chintan Mehta, CEO of Abans Financial Services.

The stock price of GPT Infraprojects was trading 12.75% higher at Rs 121.06. It was among the top gainers on the National Stock Exchange.

The share price of Tata Motors fell 6.6% to an intra-day low of Rs 661.10 on the National Stock Exchange. The stock was the major lower in the Nifty 50.

The brokerage firm Nuvama has picked TVS, M&M, Motherson Sumi, and Unominda as its top auto stocks. It expects that the wholesales growth in tractors, 2-wheelers, and passenge vehicles to otuperform that of commercial vehicles.

The share price of Hero MotoCorp rose more than 3% to an intra-day high of Rs 3,757.30. The stock was the top gainer in the Nifty 50. The stock has recently touched its 52-week low of Rs 3,461.60, which is just 8.5% away.

Hero MotoCorp, L&T, HDFC Life Insurance, Power Grid Corp, and Wipro were the top gainers in the Nifty 50 during the morning trade. While Tata Motors, Sun Pharma, Dr. Reddy’s Lab, M&M, and NTPC were the major losers in the Nifty 50.

Tata Motors’ share price took a sharp hit on Thursday, tumbling nearly 6% in early trade, as investors reacted to a major policy shift in the US. The decline came after US President Donald Trump announced plans to impose a 25% duty on all car imports.

Bharat Forge’s share prices fell 4.5% to a low of Rs 1,129.85 despite signing contracts worth Rs 6,900 crore with the Ministry of Defence. The Ministry of Defence signed contracts with Bharat Forge and Tata Advanced Systems for the procurement of 155mm, 52 calibre Advanced Towed Artillery Gun Systems (ATAGS), and high‐mobility 6×6 gun towing vehicles.

Wipro shares rose 2.3% to the day’s high of Rs 273.55 in Thursday’s trade as the company bags a deal worth 500 million euros or $650 million. The IT major signed a 10-year contract with ReAssurre UK Services, a part of Phoenix Group, the UK’s largest long-term savings and retirement business.

The Nifty 50 opened 45 points or 0.19% lower at 23,441.50 while the Sensex fell 140 points or 0.18% to open at 77,149.

The Ministry of Defence (MoD) signed contracts worth Rs 6,900 crore with Bharat Forge and Tata Advanced Systems for the procurement of 155mm/52 calibre advanced towed artillery gun systems (ATAGS) and high mobility vehicle 6×6 gun towing vehicles.

Wipro said it has secured a nearly $650 million (£500 million) 10-year strategic partnership with Phoenix Group, the UK’s largest long-term savings and retirement business. The agreement aims to enhance life and pension business administration for the ReAssure business and drive Phoenix Group’s operational transformation.