Defying US reciprocal tariff threats, markets rebound with 1% gain

Indian markets defied expectations by rebounding strongly despite Donald Trump's announcement of reciprocal tariffs on India starting April 2. The Sensex and Nifty jumped over one per cent to 73,730.23 and 22,337.30 respectively on Wednesday, a surprising move given the 16 per cent decline over the last five months. The rebound was apparently fuelled by the fact that all the negative news has already been factored in, and fundamentally, the Indian economy remains strong. This optimism is driving hopes of a recovery in large-cap stocks which, in turn, can eventually lead to an overall broad recovery in the battered stock…