New Delhi [India], April 11 : Indian stock indices closed handsomely higher on Friday, supported by the Trump's decision to pause the reciprocal tariffs on dozens of countries, including India, for 90 days.
Sensex closed at 75,157.26 points, up 1,310.11 points or 1.77 per cent, while Nifty closed at 22,828.55 points, up 429.40 points or 1.92 per cent. Nifty metal, consumer durables, oil and gas were the top movers among the sectoral indices today.
"An unexpected pause on reciprocal tariffs by the US provided relief in the midst of the uncertainty...Any development in the bilateral trade negotiations can alter the near-term outlook on the export-driven sectors. The supportive domestic environment with an ease in interest rates and a benign inflation trajectory is encouraging investors to have a balanced portfolio to aid in a better risk-reward in the long term," said Vinod Nair, Head of Research, Geojit Investments Limited.
Trump paused the reciprocal tariffs on dozens of countries that have engaged in negotiations with the US administration. However, the 125 per cent tariff levied on China will continue.
The stock indices recovered substantially after the recent bloodbath that followed the reciprocal tariffs announcement by the US administration. The tariffs had set off a sell-off in equities globally, and India was no exception.
Trump's reciprocal tariff announcement last week had been sending tremors across asset classes globally, including here in India. Equity markets worldwide slumped, particularly after Trump's sweeping trade tariffs, which stoked fears of trade tension and an economic recession.
Since assuming office for his second term, President Trump has reiterated his stance on tariff reciprocity, emphasising that the United States will match tariffs imposed by other countries, including India, to ensure fair trade.
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