New Delhi– The Sensex surged more than 1,300 points on Thursday after U.S. President Donald Trump announced a 90-day pause on trade tariffs for most countries, including India, providing a major boost to investor sentiment.
The announcement came as a welcome relief to Indian markets, even as several Asian indices remained under pressure amid escalating trade tensions between the U.S. and China.
The BSE Sensex jumped 1,310.11 points, or 1.77%, to close at 75,157.26. It touched an intraday high of 75,467.33 and a low of 74,762.84 during the session.
The NSE Nifty also rallied, climbing 429.40 points, or 1.92%, to settle at 22,828.55. However, it faced resistance near the 21-day exponential moving average on the daily chart and closed off its day’s high.
“The trend remains bearish unless the Nifty decisively moves above 23,000, where significant open interest has accumulated. On the downside, support is at 22,750—breaching this level could intensify bearish sentiment,” said Rupak De, Senior Technical Analyst at LKP Securities.
The rally was broad-based, with strong buying across sectors. The BSE Midcap index rose 1.84%, while the Smallcap index jumped 3.04%.
All major sectoral indices ended in the green, led by gains in Metal, Energy, Pharma, Auto, and Banking stocks. The Nifty Metal index was the top performer, rising more than 4%.
Among Nifty constituents, Hindalco was the top gainer, climbing 6.52%, followed by Tata Steel, JSW Steel, and Coal India, which each gained between 4.4% and 4.8%.
Asian markets, however, closed mixed. Japan’s Nikkei 225, South Korea’s KOSPI, and Singapore’s Straits Times ended in the red after China announced retaliatory tariffs of up to 125% on American goods. The move followed Trump’s recent decision to hike tariffs on Chinese imports to an effective rate of 145%.
“Despite global uncertainty, Indian markets celebrated the temporary reprieve in the trade environment, sparking a strong rally across sectors and market segments,” analysts said.
Meanwhile, the Indian rupee also strengthened, gaining 70 paise to settle at 86.00 per U.S. dollar. The gain was driven by a weaker dollar index and improved sentiment following the U.S. decision to reduce tariffs on Indian goods by 10% over the next 90 days. (Source: IANS)
