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Nifty, Sensex Rally Nearly 2% After US Tariff Pause
- Indian benchmark indices, Nifty and Sensex, surged after a temporary pause in US trade tariffs, although gains were tempered by fears of US-China trade tensions.
- Nifty 50 rose by 2.12% to 22,859.35, while BSE Sensex climbed 1.99% to 75,319.35, breaking a one-day losing streak.
- Investors showed optimism for potential trade negotiations following the US tariff pause, leading to gains in Nifty Metal and Nifty Pharma sectors.
- The pause in tariffs, announced by US President Trump, triggered a rebound in global equities, with relief for over 75 countries but higher tariffs on China.
- Despite a historic rally on Wall Street, US equities fell sharply, impacting Asian markets, including Japan's Nikkei 225 and South Korea's Kospi.
- Currency markets experienced volatility, with the Indian rupee strengthening against the US dollar amid a decline in the dollar index.
- Foreign portfolio investors continued to be net sellers in Indian equities, while domestic institutional investors provided some support.
- In March, overseas investors had offloaded equities worth Rs 3,973 crore, as per data from the National Securities Depository Ltd.
- Overall, the market response to the tariff pause reflected a mix of optimism for negotiations and concerns over escalating trade tensions.
- The global market scenario was volatile as investors monitored developments in the US-China trade dispute and their impact on economic growth.
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