Markets bounce back in tandem with rally in Asian peers
The Hindu
Trump's tariff delay boosts Indian markets, Sensex and Nifty rise sharply in early trade on Tuesday.
Equity benchmark indices Sensex and Nifty bounced back sharply in early trade on Tuesday (February 4, 2025) in line with a recovery in Asian peers after U.S. President Donald Trump delayed tariffs on Mexico and Canada for a month.
Imposition of tariffs on Canada, Mexico and China by the Trump administration fanned fears of trade war and had resulted in markets' decline on Monday.
Vikas Jain, Head of Research at Reliance Securities, said, U.S. President Donald Trump has delayed tariffs on Mexico and Canada for a month.
"This move, along with a cooling trade war, strong domestic manufacturing PMI data, and the Finance Minister's announcement in the Union Budget — especially the zero tax up to ₹12 lakh on the new tax regime—has likely boosted market sentiment," Mr. Jain added.
On Saturday, the White House announced that Trump was implementing a 25 per cent additional tariff on imports from Canada and Mexico and a 10% additional tariff on imports from China.
The 30-share BSE benchmark Sensex jumped 552.6 points to 77,739.34 in early trade. The NSE Nifty climbed 173.15 points to 23,534.20.
From the 30-share blue-chip pack, Infosys, Tata Motors, Larsen & Toubro, Mahindra & Mahindra, Adani Ports, State Bank of India, ICICI Bank and Tata Steel were the major gainers.
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