Mumbai: The Indian market has started recalibrating itself and a spike has been observed in the Sensex, with an upsurge over 1,000 points and the Nifty gaining over 300 points. It is certainly a fabulous Friday for India’s stock markets, with the market surging over 1.5%.
According to Dynamite News correspondent, this comes after the 90-day pause on reciprocal tariffs that were imposed by Donald Trump—affecting all countries except China, of course. This does include India as well. Seventy-five countries are impacted by that hold on Donald Trump's order on tariffs.
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All sectoral indices—banks, metals, pharma—leading these gains. Now, what’s driving this rally? Experts believe India is celebrating the 90-day pause on tariffs. Remember, Indian stock exchanges were shut yesterday on account of Mahavir Jayanti, so we’re seeing this celebration a day later than global markets.
At the same time, tariffs on Chinese goods have been increased by 25%. However, the gains have been trimmed, and experts believe they would have been much sharper—over 2%—had the White House not confirmed 25% tariffs on China, which caused global markets to plunge.
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Trade war fears between the US and China are mounting, and while Indian markets are celebrating the tariff pause, the gains could have been much higher if not for these concerns. Remember, the world’s two largest economies are now locked in a trade war, and it remains a key concern for global markets.
