At 09:26 IST, the barometer index, the S&P BSE Sensex, added 524.12 points or 0.68% to 77,429.63. The Nifty 50 index advanced 153.30 points or 0.66% to 23,503.70.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.80% and the S&P BSE Small-Cap index added 0.99%.

The market breadth was strong. On the BSE, 2,612 shares rose and 590 shares fell. A total of 151 shares were unchanged.

Foreign portfolio investors (FPIs) bought shares worth Rs 7,470.36 crore, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 3,202.26 crore in the Indian equity market on 21 March 2025, provisional data showed.

Stocks in Spotlight:

Alembic Pharmaceuticals declined 2.10%. The company said that its API–III facility located at Karakhadi, Gujarat, has successfully cleared the US Food and Drug Administration (USFDA) inspection with zero observations.

Larsen & Toubro (L&T) added 2.44% after the company announced that Subramanian Sarma will be elevated from whole-time director & president, Energy to deputy managing director (MD) & president of the company with effect from 2nd April 2025. Meanwhile, the company's board approved long term borrowings of upto Rs 12,000 crore, including through external commercial borrowings, term loans, non-convertible debentures or any other instrument as may be appropriate.

Reliance Industries advanced 1.02% after the company said that its step-down wholly owned subsidiary Nauyaan Tradings has completed the acquisition of 74% equity stake in Nauyaan Shipyard (NSPL), from Welspun Corp, for an aggregate consideration of Rs 382.73 crore.

Numbers to Track:

The yield on India's 10-year benchmark federal paper advanced 1.66% to 6.737 as compared with the previous close of 6.620.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 85.8975, compared with its close of 85.9800 during the previous trading session.

MCX Gold futures for the 4 April 2025 settlement shed 0.06% to Rs 87,737.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.04% to 104.13.

The United States 10-year bond yield rose 0.47% to 4.272.

In the commodities market, Brent crude for May 2025 settlement advanced 17 cents or 0.24% to $72.17 a barrel.

Global Markets:

US Dow Jones index futures rose 217 points, signaling a strong opening for US stocks today. Media reports suggest that President Donald Trump’s April 2 tariffs will be narrower and less stringent than initially feared, easing concerns about their economic impact.

Asian stocks traded mixed on Monday as investors braced for Trump’s looming April 2 tariff deadline.

In Japan, business activity shrank for the first time in five months. The au Jibun Bank Manufacturing PMI fell to 48.3 in March, down from 49.0 in February, marking its ninth consecutive month of contraction. Meanwhile, the Services PMI dropped to 49.5 from 53.7, the first decline since mid-2024. A PMI reading below 50 indicates contraction.

Meanwhile, Chinese Premier Li Qiang warned of “rising instability” and urged nations to open up their markets.

On Friday, US market closed higher as Trump hinted at "flexibility" on tariffs, although he reaffirmed the April 2 deadline for reciprocal duties.

The S&P 500 rose 0.08% to 5,667.56 points, while the NASDAQ Composite rose 0.52% to 17,784.05 points. The Dow Jones Industrial Average rose 0.08% to 41,985.35 points.

Nike stock slipped over 5% after fiscal fourth-quarter revenue estimate came in below analysts’ expectations.

While stocks have rebounded from oversold levels, investors remain cautious. Until there is clarity on the tariff situation—expected by April 2—the market’s upside potential will likely remain limited.