Sensex, Nifty Rise After US Court Scraps Trump Tariffs, Markets Open Higher
Indian stock markets opened higher as investor sentiment improved following a ruling by the Supreme Court of the United States that struck down import tariffs introduced under former President Donald Trump. The Nifty 50 and Sensex posted early gains, supported by broad-based sectoral buying. However, uncertainty remains after Trump announced plans to raise temporary tariffs, while select stocks like IDFC First Bank faced pressure due to fraud-related concerns.
Ellofacts
Indian Markets Rise as US Court Scraps Trump-Era Tariffs
New Delhi:
Indian benchmark indices opened on a positive note on Monday after the Supreme Court of the United States отменed import duties introduced during the tenure of former US President Donald Trump, easing global trade concerns.
The Nifty 50 gained 0.42% to reach 25,678.4, while the BSE Sensex moved up 0.11% to 82,906.83 in early trade. Market sentiment remained upbeat as most sectors traded in positive territory, with 14 out of 16 major indices recording gains. Small-cap stocks advanced by 0.7%, while mid-cap shares rose 0.2%.
The rally followed a ruling by the US Supreme Court on Friday, which struck down Trump’s broad-based tariffs imposed under emergency legislation. The decision is expected to have wide-ranging effects on international trade and economic relations.
However, uncertainty continues as Trump announced on Saturday that he plans to increase the temporary import duty on goods entering the US from 10% to 15%, the highest level permitted under existing laws.
Amid the evolving situation, India has reportedly postponed sending a trade delegation to Washington this week. According to a report by Reuters, the delay is linked to concerns over policy clarity following the court’s verdict.
In stock-specific action, IDFC First Bank shares plunged nearly 10% after the lender disclosed an internal probe into a suspected $65 million fraud involving certain employees and accounts linked to local government bodies.
Overall, investors remain cautiously optimistic as they assess the impact of US trade policy developments on global and domestic markets.
