Mumbai: Indian stock markets posted a strong performance on Tuesday after the United States offered a 90-day relief from reciprocal tariffs. Investor sentiment turned sharply positive, with hopes that the relief may extend to sectors like automobiles, boosting global trade prospects.
This move came amid expectations that more tariff exemptions could follow from the US administration, further aiding the market recovery. Positive cues from global markets, especially Wall Street, also added to the upbeat mood.
Sensex Jumps Over 1,500 Points
The BSE Sensex opened nearly 1,700 points higher at 76,852 and briefly touched an intra-day high of 76,908. Throughout the session, the index remained close to its peak before finally settling at 76,735 — a gain of 1,578 points or 2.1 percent.
The NSE Nifty too had a strong session, opening at the day’s high of 23,368 before closing slightly lower at 23,329. It added 500 points or 2.2 percent by the end of the day.
Banking, Auto & Metal Stocks Lead Gains
Strong buying was seen across key sectors, led by private banks, metals, infrastructure, and auto stocks. HDFC Bank, ICICI Bank, and Axis Bank together contributed about 750 points to the Sensex rally.
On the Nifty, top gainers included IndusInd Bank, Shriram Finance, Larsen & Toubro, Tata Motors, and Axis Bank. Sector-wise, Realty, Automobiles, Financial Services, Media, and Metal indices saw solid gains.
What Experts Say?
“Markets are adjusting to the daily twists and turns from President Trump,” said Vikas Gupta, CEO of OmniScience Capital. He noted that any relief, even temporary, gives the markets a reason to cheer, while surprises often trigger corrections.
Sundar Kewat of Ashika Institutional Equity added that further optimism was driven by expectations that the US may also ease tariffs on the automotive sector, benefiting export-driven industries.
Broader Markets and Rupee Also Shine
Midcap and small-cap stocks performed well, with the Nifty 500, Midcap, and Small Cap indices all closing in the green. Meanwhile, the Indian rupee gained strength, ending the day 28 paise higher at 85.77 against the US dollar.
(With agency inputs)
