Indian stock market today: The Nifty 50 and Sensex ended Tuesday’s trading session (April 29) flat in a range-bound market. The Nifty 50 closed at 24,355, up 0.02% from the previous close, while the Sensex posted a modest gain of 0.07%, ending at 80,278 points. The broader markets, however, outperformed the benchmarks, with the Nifty Midcap 100 and Nifty Smallcap 100 finishing the session with gains of 0.31% and 0.37%, respectively.
U.S. President Donald Trump is rolling back some of his tariff decisions — some have already been postponed or exempted. Most recently, his administration is reportedly considering easing duties on foreign vehicle parts.
“President Trump is building an important partnership with both domestic automakers and our great American workers,” Commerce Secretary Howard Lutnick said in a statement provided by the White House.
In mid-February, Donald Trump signaled a pause on auto tariffs. Earlier, he had paused reciprocal tariffs on major trading partners for 90 days—excluding China. However, trade negotiations between the world’s two largest economies are showing signs of progress.
U.S. Treasury Secretary Scott Bessent said on Monday that many top U.S. trading partners have made “very good” tariff proposals. He added that China’s recent moves to exempt certain U.S. goods from its retaliatory tariffs demonstrate a willingness to de-escalate tensions between the world’s two largest economies.
He also reportedly said that the first deals to be signed would likely be with India, adding that a deal could be sealed as early as this week.
Sectoral performance: IT stocks shine; pharma lags
IT stocks emerged as the top gainers in today’s trading session, with the Nifty IT index rising 1.19% to close at 35,906 points. Other sectoral indices, including Nifty Consumer Durables and Nifty Oil & Gas, also ended the session with gains of up to 0.45%.
On the flip side, Nifty Pharma was the top sectoral loser, declining by 1%, followed by Nifty Metal, Nifty Media, Nifty Realty, Nifty Auto, and Nifty FMCG — all closing with losses of up to 0.90%.
FPIs remain net buyers for nine straight sessions
Despite global market volatility, the Indian stock market has remained resilient, even amid concerns over India-Pakistan tensions. Both the Nifty 50 and Sensex have continued to gain, supported by strong inflows from overseas investors over the last nine trading sessions—marking the longest foreign buying streak in nearly two years.
The shift in sentiment among foreign investors can be attributed to optimism around a potential U.S. trade deal, attractive corporate valuations, and India’s relative resilience to global uncertainty.
Foreign Portfolio Investors (FPIs) pumped approximately ₹35,000 crore into Indian equities over the last nine sessions, lifting the benchmark Nifty 50 index by 6.6% during that period.
Meanwhile, global brokerage firm UBS, in its latest note, projected an 8% upside in the Nifty 50 index, expecting it to reach 26,000 over the next year. The brokerage maintained a positive stance on consumption-oriented sectors, including retail, staples, two-wheelers (2Ws), and travel. It also remains constructive on financials, real estate, cement, and hospitals.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
