Sensex soars 1,578 points on US tariff relief

Mumbai

The Indian stock market saw a major rally on Tuesday after the United States offered a 90-day relief from reciprocal tariffs. This move by the US administration, along with expectations of further relief in the automotive sector, sparked strong buying across sectors.

The Sensex opened sharply higher at 76,852, climbing nearly 1,700 points in early trade, and briefly touched an intra-day high of 76,908. It remained steady near this level throughout the day and finally closed at 76,735, registering a gain of 1,578 points or 2.1%. Leading the surge were private banks like HDFC Bank, ICICI Bank, and Axis Bank, which together contributed around 750 points.

The Nifty also performed strongly, opening at the day’s high of 23,368 and ending just a little lower at 23,329—up 500 points or 2.2%.

Global sentiment was lifted by a rebound in US markets, with hopes of further tariff exemptions under President Donald Trump.
“Markets are adjusting the new reality of daily Trump twists and turns,” said Vikas Gupta, CEO and Chief Investment Strategist at OmniScience Capital.

Top performers on the Nifty included IndusInd Bank, Shriram Finance, L&T, Tata Motors, and Axis Bank. Sector-wise, Realty, Automobiles, Metals, Financial Services, and Media led the rally.

The broader market was also strong, with the Nifty 500, Midcap, and Small Cap indices all trading in the green. Meanwhile, the Indian rupee appreciated by 28 paise to close at 85.77 against the US dollar.