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, sparking a sharp rally in Indian equities.
The move boosted investor sentiment even as broader Asian markets remained mixed due to lingering U.S.-China trade tensions.
The benchmark BSE Sensex jumped 1,310.11 points, or 1.77%, to close at 75,157.26. During the session, the index touched a high of 75,467.33 and a low of 74,762.84. The NSE Nifty also gained 429.40 points, or 1.92%, to settle at 22,828.55.
Despite the rally, Nifty faced resistance near the 21-day exponential moving average (EMA), closing below its intraday high.
“The trend remains bearish unless the index decisively breaks above 23,000, where significant open interest is building. A drop below 22,750 could reinforce the bearish bias,” 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 climbed 3.04%.
All major sectoral indices ended in the green. Metals, energy, pharmaceuticals, auto, and banking stocks led the gains, with the Nifty Metal index emerging as the top performer — surging over 4%.
Among Nifty constituents, Hindalco led the gainers, rising 6.52%, followed by Tata Steel, JSW Steel, and Coal India, which each advanced between 4.4% and 4.8%.
Meanwhile, Asian markets painted a mixed picture. Japan’s Nikkei 225, South Korea’s KOSPI, and Singapore’s Straits Times ended lower, reflecting caution amid escalating U.S.-China tensions.
China retaliated to recent U.S. tariff hikes by imposing tariffs of up to 125% on certain American goods, after President Trump raised tariffs on Chinese imports to an effective 145%.
“Despite global uncertainty, Indian markets welcomed the temporary relief in the global trade environment, fueling a broad-based rally,” analysts noted.
The Indian rupee also strengthened, gaining 0.70 to trade at 86.00 against the U.S. dollar. The rally was supported by a weaker dollar index and optimism following the U.S. decision to reduce tariffs on Indian goods by 10% for the next 90 days. (Source: IANS)
