Mumbai, April 15 (IANS) The Indian stock markets made a stunning comeback on Tuesday as the single-day rally added a massive Rs 10.9 lakh crore to investors’ wealth -- erasing all the losses that followed the US tariff shock on April 2.

In a powerful rally, the Sensex surged over 1,570 points while the Nifty jumped past 22,300 -- making it one of the sharpest gains in recent months.

The recovery was broad-based and driven by strong investor sentiment, boosted by global cues and domestic optimism.

The biggest trigger for the rally was a fresh update on US trade policy. Washington announced a 90-day delay in tariffs for most countries, except China.

The move eased investor nerves and reignited hopes for India’s position in global supply chains. Financial stocks led the charge, rising over 2 per cent due to their heavy weightage in the indices.

Midcap and smallcap indices also saw a strong recovery, each rising by around 3 per cent after recent underperformance.

Experts noted that domestic institutional investors turned aggressive buyers on Tuesday, further supporting the upward momentum.

Asian markets were also firm, supported by a weaker US dollar and stable bond yields, giving Indian markets an additional boost as they reopened after an extended weekend.

Apart from global cues, India’s strong macroeconomic fundamentals continue to attract investor interest.

“With robust domestic demand and limited direct exposure to US-China tensions, India is increasingly seen as a stable bet amid global uncertainties,” market experts noted.

“While data on foreign institutional investor flows is yet to be released, early signs point to strong buying activity,” they added.

“Markets are adjusting the new reality of daily Trump twists and turns,” said Vikas Gupta, CEO and Chief Investment Strategist at OmniScience Capital.

He added that sometimes when tariffs look like they have been temporarily removed the markets will react positively, when something unexpected happens they will react negatively.