Sensex soars 1600 points, Nifty up 500 on hopes of Trump Tariff relief
Indian stock markets surged on Tuesday, with the Sensex rising 1,679 points and the Nifty gaining over 500 points. The rally was driven by optimism over possible tariff relief from the US government, which investors hope will ease trade tensions with China. Positive global market trends and strong domestic investor confidence further boosted market sentiment.
Mumbai (Maharashtra) [India], April 15 (ANI): Indian stock markets opened on a strong note on Tuesday, taking cues from global optimism and hopes of easing trade tensions.
The rally came after comments and actions from the US government signalled possible tariff relief, which investors see as a step towards a broader trade agreement with China.
The Nifty 50 index jumped over 539.80 points, or 2.36 per cent, to open at 23,368.35, while the BSE Sensex rallied 1,679.20 points, or 2.23 per cent, to start the day at 76,836.46.
Market sentiment was lifted by signs that US President Donald Trump may announce further trade concessions, especially in the semiconductor and electronics sectors.
Ajay Bagga, Banking and Market Expert told ANI "Indian Markets are determined to see the positives today. The worst of Trump Tariff Tantrums is perhaps over, at least for 90 days at the worst. Markets will look at earnings and management guidance for clarity through the Trump Policy Uncertainty. India stands out as a strong structural domestic story, and should attract some FPI flows once the Trump Policy is crystallised".
US customs recently announced temporary tariff exemptions on key consumer and industrial electronics, including semiconductors. On Sunday, US Commerce Secretary clarified that the relief is temporary.
Trump also confirmed in a post that these measures are short-term and added that new semiconductor tariffs could be announced next week.
Global markets reacted positively to these developments. On Monday, Asian, European, and US markets all closed higher. US Big Tech companies saw more than 6 per cent gains in pre-market trading.
Meanwhile, Indian investors continued to show confidence in the market. Despite tight liquidity in March, Indian SIP investors pumped in over Rs 25,000 crore into equity mutual funds, providing strong support to the markets.
Foreign Institutional Investors (FIIs) were net sellers in the last session on April 11, pulling out Rs 2,519 crore, while Domestic Institutional Investors (DIIs) remained net buyers, investing Rs 3,759 crore.
In corporate news, several Indian companies are set to report their March quarter results today. These include ICICI Lombard General Insurance Company, Indian Renewable Energy Development Agency, GM Breweries, MRP Agro, Hathway Bhawani Cabletel and Datacom, and Delta Industrial Resources.
In other Asian markets, Taiwan's weighted index rose more than 1.6 per cent, South Korea's KOSPI gained 0.79 per cent, Japan's Nikkei 225 advanced 0.88 per cent, and Hong Kong's Hang Seng index edged up by 0.07 per cent.
In the US, markets closed higher on Monday, with the Dow Jones up 0.78 per cent, NASDAQ gaining 0.64 per cent, and the S&P 500 rising 0.79 per cent.
Investors are watching closely for any further statements from the US administration that could impact the trade outlook and influence the next market moves. (ANI)