Thanks to US President Donald Trump announcing a 90-day pause on trade tariffs for most countries, investor sentiment received an immediate boost.
- The BSE Sensex jumped 1,310.11 points (1.77%) to close at 75,157.26
- The NSE Nifty50 surged 429.40 points (1.92%) to end at 22,828.55
Broader indices followed suit:
- BSE Midcap rose 1.84%
- BSE Smallcap surged 3.04%
Impact on the stock market
Metal: surged 4.09%, leading the pack, boosted by strong buying in steel and mining stocks.
Energy: gained 2%, supported by firm global crude prices and renewed investor confidence.
Pharma: rose 2%, with defensive buying amid global uncertainty.
Auto: climbed 2%, tracking improved sentiment on exports and domestic recovery.
Banking & PSU: increased 2%, as easing inflation expectations boosted rate-sensitive sectors.
Telecom: advanced 2%, with select telecom majors witnessing steady accumulation.
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| Sector/Index | Performance |
| IT & BPM sector | 0.69% |
| Healthcare sector | 1.53% |
| Oil & Gas sector | 2.20% |
| Real estate sector | 1.26% |
| PSU Bank in India | 1.29% |
Top gainers today
| Company | Price | Change % |
| Hindalco Share Price | 600.30 | 6.44 |
| Tata Steel Share Price | 133.42 | 4.91 |
| JSW Steel Share Price | 990.25 | 4.73 |
| Coal India Share Price | 392.10 | 4.67 |
| Jio Financial Share Price | 230.02 | 4.12 |
Top losers today
| Company | Price | Change % |
| Apollo Hospital Share Price | 6,780.95 | -0.78 |
| Asian Paints Share Price | 2,393.60 | -0.73 |
| TCS Share Price | 3,231.50 | -0.47 |
Market aftermath: Impact on stocks
Tata Steel surges nearly 6% on cost-saving optimism
Tata Steel caught investor attention with a 5.9% jump on Friday after JPMorgan reiterated its ‘Overweight’ rating with a target of ₹180/share. The bullishness came after the steelmaker shared details of a €500 million cost-saving plan as part of a transformation of its Netherlands operations.
The company also plans to reduce its workforce by 1,600 roles, aiming to improve margins and streamline efficiency. Given steel prices and demand dynamics, this news came as a welcome positive, hence the strong buying interest.
EMS stocks extend rally amid US-China trade war escalation
As the US and China continue to impose steep reciprocal tariffs—up to 145% and 125% respectively—investors are betting on Indian EMS firms as alternative supply chain players.
- Dixon Technologies: gained 7.66%
- Kaynes Technology and Amber Enterprises also clocked in strong single-day gains
This marked Dixon’s third straight day of gains, with the stock rising nearly 14% over the week. Investors expect EMS companies to attract more global outsourcing deals as electronics manufacturers seek to diversify beyond China.
Muthoot Finance tanks 6% on RBI gold loan guidelines
Not every stock joined the party. Muthoot Finance slumped over 6% after the RBI released draft guidelines on gold loans that sparked investor concerns.
Key proposals included:
- Capping LTV ratio at 75%
- Limiting bullet repayment loans to 12 months
- Restricting gold loan portfolio sizes for NBFCs
Kotak Institutional Equities downgraded the stock from Buy to Add, trimming the target price to ₹2,250 from ₹2,400, and cutting earnings estimates by 10%.
The stock briefly hit a 10% lower circuit, and saw its highest daily volumes since Jan 2024, with significant short positions building up in the futures market. The overhang of regulation might continue to weigh on the stock in the near term.
Crude oil flows shift amid tariff blitz
The US-China tariff war isn’t just moving stock prices—it’s reshaping global oil flows.
With China imposing an 84% tariff and the US countering with 145%, oil trade between the world’s biggest producer (US) and largest importer (China) is dwindling fast. In fact, US crude exports to China are expected to drop to near-zero, as they become $51/barrel costlier due to tariffs.
Now that oil is now redirecting to other Asian buyers, notably India and Japan, who are grabbing cheaper cargoes to fill their reserves. For Indian refiners, this creates a short-term cost advantage, potentially easing input costs for oil and gas companies if sustained.
Conclusion
It was a strong comeback Friday for the Indian stock market, closing the week with a burst of positivity after Donald Trump’s tariff pause announcement. While global volatility and geopolitical risk haven’t gone away, investors took the opportunity to realign portfolios.
Metals, EMS, and PSU banks saw strong inflows, while stocks like Muthoot Finance reminded us that policy surprises still move markets fast. Meanwhile, crude oil flows and the US-China dynamics continue to shift regional economic patterns.
For investors, this is a market that rewards agility. From sector rotation to global trade cues, the story is unfolding beyond the charts.
And just a reminder—the markets will be closed on April 14 for Dr. Baba Saheb Ambedkar Jayanti, so enjoy the long weekend!For more stock market insights, check out the StockGro blog.
