Broader Markets Rise 2% as Tariff Exemption Hopes Propel Small and Midcap Gains

On April 15, India’s key indices—Sensex and Nifty—advanced steadily, with small and midcap segments each recording a 2% increase. This momentum came on the back of ongoing discussions about potential tariff exemptions and continued mutual fund inflows during March.

Following a 90‑day tariff suspension for most nations (except China), comments from US President Donald Trump—hinting at temporary tariff breaks for vehicles and auto parts—provided additional impetus for OEM manufacturers, bolstering market sentiment.

Within the midcap space, Sona BLW Precision Forgings emerged as the standout performer, with its shares climbing nearly 8% after Trump’s remarks. Similarly, Bharti Hexacom and Mazagon Dock Shipbuilders registered gains of about 7% each.

Support for the market was further reinforced by the Reserve Bank of India’s Monetary Policy Committee, which trimmed the benchmark lending rate by 25 basis points to maintain the growth trajectory.

On the smallcap front, Anant Raj led gains with a surge of more than 7%, trading at Rs 471, while KEC and Inox Wind saw their shares rise by around 6%. Other smallcap players—including Kaynes Technology, Amber Enterprises, Garden Reach Shipbuilders and Engineers, HFCL, Ircon, Titagarh Rail Systems, FirstCry, and Hindustan Copper—also posted notable increases ranging from approximately 3% to 5%.

In the midcap arena, stocks such as Bharat Forge, National Aluminum, Prestige Estates, IREDA, BSE, Bharat Dynamics, Suzlon Energy, Policybazaar, Vodafone Idea, BHEL, and SAIL recorded healthy advances between 3% and 5%. The rebound of the Nifty 50 from a recent low of 21,800 underscored the market’s resilience by providing a robust support level for the broader indices.

Mandar Bhojane, Research Analyst at Choice Broking, noted, “While bulls maintain the current momentum, traders should be cautious of intraday volatility and profit booking near resistance zones. It may be wise to consider buying on dips around key support levels.”

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