Bulls dominated the stock market erasing early weakness over US automotive tariffs. Nifty 50 index ended near 23,600 on across-the-board buying, barring auto and pharma names.

At close, Sensex was up 317.93 points or 0.41% at 77,606.43, and the Nifty was up 105.10 points or 0.45% at 23,591.95.

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BSE Midcap index was up 0.5% and Smallcap index rose nearly 1%. The overall market capitalisation of firms listed on the BSE rose to nearly ₹415 lakh crore from about ₹412 lakh crore in the previous session.

Among the sectors, Nifty Auto index dropped 1.04% on concerns over Trump tariffs. Pharma (down 0.40%) and Healthcare (down 0.22%) also declined.

Nifty Bank outperformed Nifty 50 with the Nifty PSU Bank was up 2.50% emerging as the top gainer among sectoral indices with a gain of 0.72%. Nifty Financial Services rose 0.73%.

Some of the key performers in the banking index were Bank of Baroda emerging as the top gainer surging over 3%, shares of Union Bank rising nearly 3% to trade at Rs 123 apiece.

Punjab National Bank and Canara Bank shares also recorded strong gains, rising nearly 2% each to trade at Rs 95 apiece and Rs 89 apiece respectively while the Bank of India shares were meanwhile trading over 1% higher at Rs 107 apiece.

Auto and pharma were the only two sectoral indices that ended the session in the red. The development came amid trade tensions that escalated further following the Donald Trump administration’s imposition of 25% tariffs on automobile imports.

Tata Motors shares slumped 7% to Rs 661 as investors weighed the impact of Trump’s proposed tariff.

As pharma shares were under selling pressure, J B Chemicals was the top loser on the index, falling nearly 7%.

On BSE, around 460 stocks touched a 52-week low. Some of them were Sona BLW, Happiest Minds, Metro Brands, Mahindra Life, Bajaj Electricals, Gensol Engineering, Vakrangee, TCI Express, Shiva Cement, Rolex Rings, Expleo Solution, Brainbees Solutions, Suyog Tele, Galaxy Surfactants, among others.

GAIL India’s stock climbed 3.43% to Rs 180.25, drawing strong investor interest amid an unexpected surge in trading volumes.