As per provisional closing, the barometer index, the S&P BSE Sensex, surged 592.93 points or 0.78% to 76,617.44. The Nifty 50 index jumped 166.65 points or 0.72% to 23,332.35.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 1.38% and the S&P BSE Small-Cap index added 0.99%.

The market breadth was strong. On the BSE, 2,857 shares rose and 1,093 shares fell. A total of 135 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, shed 0.43% to 13.72.

Economy:

India's manufacturing sector growth recovered the ground lost in February, picking up to its highest in eight months as a faster upturn in total sales underpinned a sharper increase in output. March's acceleration came despite a mild slowdown in international order growth. Buoyant demand led companies to tap into their inventories to meet increased client appetite, resulting in the most rapid decline in finished goods stocks since January 2022. Firms aimed to counter declining stock levels by acquiring additional inputs for their production processes at the quickest pace seen in seven months.

Meanwhile, a stronger increase in purchase prices contrasted with a softer rise in selling charges. Registering 58.1 in March, the seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) was up from 56.3 in February to its highest mark in eight months. The latest reading showed a substantial improvement in the health of the sector that was above its long-run average.

The Reserve Bank of India (RBI) has announced an Open Market Operation (OMO) purchase worth Rs 80,000 crore in April. The purchases will be conducted in four tranches of Rs 20,000 crore each on April 3, April 8, April 22, and April 29, the central bank said in a statement released late Tuesday.

OMO purchases involve the RBI buying government securities from the market to infuse liquidity, ensuring smoother credit flow and stable financial conditions.

The central bank emphasized that it will continue to monitor evolving liquidity and market conditions and take appropriate measures as needed to maintain orderly market operations.

Buzzing Index:

The Nifty Realty index added 3.61% to 854.65. The index slipped 3.08% the past in two consecutive trading sessions.

Godrej Properties (up 5.38%), Macrotech Developers (up 5.35%), Prestige Estates Projects (up 3.55%), DLF (up 3.06%), and Oberoi Realty (up 3.04%), Raymond (up 2.93%), Phoenix Mills (up 2.64%), Sobha (up 2.59%), Brigade Enterprises (up 2.25%), and Anant Raj (up 2.04%) added.

Stocks in Spotlight:

Godrej Properties jumped 5.08% after the company has sold over 275 homes worth over Rs 2,000 crore at the launch of its luxury project, Godrej Riverine, located in Sector 44, Noida, Uttar Pradesh.

Baazar Style Retail hit an upper circuit of 20% after the company reported 55% growth in revenue to Rs 345.6 crore in Q4 FY25 as compared with Q4 FY24.

Sandhar Technologies advanced 3.13% after the company said that its wholly-owned subsidiary Sandhar Ascast has acquired Sundaram-Clayton's 'high-pressure and low-pressure aluminum die casting' business at its Hosur plant.

Hyundai Motor India (HMIL) declined 1.17% .The company reported a 2.6% YoY increase in total sales, reaching 67,320 units in March 2025, including domestic sales of 51,820 units and export sales of 15,500 units. In FY25, the company's total sales reached 762,052 units, comprising 598,666 units in domestic sales and 163,386 units in export sales.

Tata Motors rose 0.25%. The company announced that its domestic sales fell marginally to 90,500 units in March 2025, down 0.35%, as compared with 90,822 units sold in March 2024.

Artson rallied 3.68% after the company announced that its board has considered and approved the proposal for appointment of Manoj Shah, as the chief financial officer (CFO) of the company effective from 7 April 2025.

Banco Products (India) added 2.03% after the company's wholly owned subsidiary, Nederlandse Radiateuren Fabriek B.V. (NRF), announced plans to establish a new production facility in Poland to enhance production efficiency.

GPT Infraprojects soared 7.52% after the company said that it has received an order worth Rs 481.11 crore from CAO Construction, South Eastern Railway, Kolkata, for construction work.

Global Markets:

US Dow Jones index futures were down 175 points, indicating a negative opening in the US stocks today.

European markets traded lower while Asian stocks tumbled on Wednesday as global traders brace themselves for a raft of fresh trade tariffs due to be announced by U.S. President Donald Trump's administration.

Overnight in the U.S., the three major averages closed mixed. The S&P 500 added 0.38% while the Nasdaq Composite gained 0.87%. The Dow Jones Industrial Average slipped 0.03%.

White House officials confirmed that Liberation Day tariffs, including a 25% auto import tariff starting April 3, will be implemented immediately on April 2. Investor uncertainty regarding the tariffs' full impact and potential retaliatory actions is contributing to market volatility.

Tesla Inc. shares closed 3.6% higher on Tuesday. The company is set to report its first-quarter vehicle deliveries on Wednesday. NVIDIA shares rose 1.6%, while Microsoft stock climbed 1.8%. Alphabet shares closed 1.5% up, while those of Micron Technology Inc. jumped 2.1%.

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