Trump's 90-Day Tariff Pause Announcement Boosts Indian Stock Market; Sensex Soars 1000 Points, Nifty Opens Above 22,700.
Stock Market Today: The Indian stock market opened bly on Friday following US President Donald Trump's announcement of a temporary tariff pause. Despite weak global cues, domestic investors viewed this as a positive sign.
Sensex Climbs 1000 Points, Nifty Crosses 22,700
The BSE Sensex opened at 74,835.49, surging 988 points on Friday, while the NSE Nifty rose over 300 points to open at 22,695.40. In early trading, the Sensex reached a high of 74,979.01 and the Nifty touched 22,783.05. By 9:21 AM, the Nifty was trading at 22,765.75, up 366.60 points or 1.64%.
Trump Announces Tariff Pause
On April 9th, Donald Trump announced that the US would not impose new tariffs on imports from most countries for the next 90 days. This decision is being considered a positive step towards the first phase of a bilateral trade agreement between India and the US. This has created an atmosphere of optimism among investors.
Mixed Signals from Global Markets
However, the US has increased tariffs on imports from China to 145%. However, some key categories—Copper, Pharmaceuticals, Semiconductors, and Energy Products—have been exempted. Despite this, volatility persists in global markets.
Japan's Nikkei 225 index fell 4.55% on Friday, South Korea's Kospi dropped 1.66%, and Australia's S&P/ASX 200 declined by 1.93%.
US Market Decline, But Strong Start in India
US stock markets experienced a significant downturn on Wednesday. The Dow Jones fell 2.50%, the S&P 500 dropped 3.46%, and the Nasdaq declined by 4.31%. This put pressure on global markets. Despite this, GIFT Nifty futures were trading at 22,943 on Friday morning, 460 points higher than the previous session—indicating a b opening for the Indian market.
