The key equity indices ended with decent gains on Thursday, supported by continuous foreign fund inflows and buying in blue-chip stocks, aiding the recovery in equities. The Nifty settled above the 23,550 mark. Trading was volatile due to the monthly Nifty50 F&O series expiry today.

PSU bank, media and oil & gas shares advanced while auto and pharma stocks declined.

As per provisional closing data, the barometer index, the S&P BSE Sensex rallied 317.93 points or 0.41% to 77,606.43. The Nifty 50 index added 105.10 points or 0.45% to 23,591.95.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.46% and the S&P BSE Small-Cap index added 0.90%.

The market breadth was negative. On the BSE, 1,701 shares rose and 2,345 shares fell. A total of 86 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 1.26% to 13.30.

Buzzing Index:

The Nifty PSU Bank added 2.50% to 6,296.15. The index declined 2.9% in the two trading sessions.

Bank of Baroda (up 4.83%), Punjab National Bank (up 3.82%), Union Bank of India (up 3.33%), Canara Bank (up 2.76%), Bank of India (up 2.27%), UCO Bank (up 2%), Central Bank of India (up 1.92%), Indian Bank (up 1.87%), State Bank of India (up 1.09%) and Bank of Maharashtra (up 0.93%) advanced.

Stocks in Spotlight:

Tata Motors slumped 5.56% after U.S. President Donald Trump announced a 25% tariff on imported cars and light trucks, a move aimed at boosting domestic manufacturing. The tariff, set to take effect on April 3, is expected to increase costs for automakers and potentially dent sales.

BSE jumped 4.90% after the company said its board will consider a bonus share issue on 30 March 2025.

TVS Motor Company rose 0.96%. The company said that its wholly owned subsidiary, TVS Motor (Singapore) has acquired an additional 30% stake in EBCO from its existing shareholder for a consideration of GBP 60,000.

Wipro added 1.59% after the company announced that it has won a £500 million, 10-year strategic deal with Phoenix Group, the UK's largest long-term savings and retirement business. The project is designed to deliver life and pension business administration for the ReAssure business and accelerate Phoenix Group's operational transformation.

Sterlite Technologies advanced 2.24% after the firm announced its successful partnership with Wyre for supporting the development of its expansive multi-gigabit Fibre-to-the-home (FTTH) network.

SpiceJet added 0.56%. The company announced that it has successfully settled its dispute with Willis Lease Finance Corporation, a leading global aircraft engine lessor, resulting in a substantial saving for the airline.

Bharat Forge declined 2.30%. The company inked the largest domestic contract with Ministry of Defence for the supply of 184 indigenously developed Artillery System (ATAGS). The contract, which accounts for 60% of the Rs 6,900 crore procurement by the Ministry of Defence, involves the supply of the Advanced Towed Artillery Gun System (ATAGS). Jointly developed with the Defence Research and Development Organisation (DRDO)

Sunteck Realty gained 2.73% after the company announced that its board has approved an investment of approximately $10 million to $20 million in its wholly owned subsidiary (WOS), Sunteck Lifestyle International (SLIPL).

Sundaram-Clayton rallied 4.81% after the company entered into a business transfer agreement with Sandhar Ascast (SAPL) for the sale of its aluminum die-casting business at the Hosur plant for a total consideration of Rs 163 crore.

Quadrant Future Tek jumped 3.81% after the company announced that it has received a letter of acceptance (LOA) worth Rs 155.93 crore from RailTel Corporation of India for the supply of Kavach systems at East Central Railway.

Global Markets:

European shares declined on Thursday as U.S. President Donald Trump threatened to impose significantly higher tariffs on the European Union (EU) and Canada if they collaborate to counter U.S. trade tariffs. Investors also reacted to new automotive tariffs announced by President Trump.

Asian stocks ended mixed as investors digested U.S. President Donald Trump's plan to impose 25% tariffs on auto imports.

Japanese automaker stocks took a sharp hit after Trump confirmed that the tariffs-targeting imported cars and light trucks- will take effect on April 2. The move could have significant repercussions for Japanese manufacturers, who rely heavily on the U.S. market.

US market closed lower on Wednesday, with investors fretting over the economic impact of the tariffs. Tech stocks also faced selling pressure amid mounting concerns about an oversupply of AI data centers and computing capacity.

At the closing bell, the Dow Jones Industrial Average slipped 0.31%, the S&P 500 lost 1.12%, and the NASDAQ Composite plunged 2.04%.

AI giant NVIDIA dropped 1.2% after already tumbling 5.7% during Wednesday's session. Server makers Broadcom, Dell Technologies, and Super Micro Computer also declined in after-hours trading. Meanwhile, GameStop surged 11% after its management approved a plan to invest excess cash in Bitcoin.