New Delhi, April 2 -- After a two-day decline, Nifty and Sensex ended the session with strong gains on April 2, driven by a rebound in banking and IT stocks. The rally comes just ahead of US President Donald Trump's April 2 tariff deadline, which the White House has confirmed will take immediate effect.

The Sensex closed 593 points, or 0.78 percent, higher at 76,617.44, while the Nifty 50 settled 166.65 points, or 0.72 percent, up at 23,332.35.

The broader market mirrored the positive sentiment with the Nifty Midcap 100 rising 1.6 percent while the Smallcap 100 gained 1.1 percent.

The tariffs are coming at a time when US consumer and business confidence are weakening, as concerns grow that higher duties will drive up domestic prices an...