Trump suffers setback over tariffs, while the stock market booms, with the Sensex rallying sharply
Donald Trump suffered a setback over tariffs in the US, and the Indian stock market, along with Asian markets, opened with a meteoric rise on Monday. The BSE Sensex jumped over 600 points upon opening.
Any development in the US has a direct impact on the Indian stock market. Last week saw several major developments in the US, the most significant of which was Trump's defeat in the tariff case in the US Supreme Court. The US Supreme Court declared President Trump's reciprocal tariffs illegal and struck them down. Immediately following this decision, Trump imposed a new 10% tariff on all countries globally, and within 24 hours, increased it to 15%. As for the impact of this, the tariffs, which had caused a stir in global markets, have seen a surge since their removal, and the Sensex and Nifty have also rocketed as they opened.
Sensex-Nifty created a stir upon opening
As soon as trading opened in the stock market, the Bombay Stock Exchange's 30-share Sensex index jumped to 82,906.83 from its previous close of 82,814.71 and then reached 83,486 within minutes. The NSE Nifty also followed the Sensex's lead, opening at 25,678, up from its previous close of 25,571.25 on Friday, and then rocketed to 25,771.45.
These 10 stocks rose the most
Regarding the fastest-growing stocks during the initial rally in the stock market, Adani Ports Share (2.80%), Axis Bank Share (2.10%), Kotak Bank Share (1.60%), and HDFC Bank Share (1.50%), included in the BSE's large-cap category, were trading higher. Looking at the mid-cap category, Bharat Forge Share (2%), Policy Bazaar Share (1.95%), Paytm Share (1.95%), and BHEL Share (1.50%) were seen gaining. Among small-cap stocks, the biggest gains were seen in Cohance Share (4.80%) and IIFL Share (4.20%).
Markets surged as tariff fears ended
The easing of fears about Donald Trump's reciprocal tariffs was felt by stock markets worldwide, with almost all Asian markets, except Japan, trading in the green zone. These positive signals from abroad also led to a surge in the Sensex and Nifty. In early trading, approximately 1,676 stocks opened with strong gains compared to their previous close, while 830 stocks declined. 257 stocks remained unchanged.
