Mumbai: The Indian stock market kicked off on a positive note this Friday following an announcement from US President Donald Trump regarding a temporary halt on reciprocal tariffs until July 9.
By approximately 9:22 AM, the Sensex had risen by 1,170 points, marking a 1.58% increase to reach 75,017, while the Nifty climbed 373 points, or 1.67%, to settle at 22,772.
In addition to large-cap stocks, there was notable buying activity in mid-cap and small-cap stocks. The Nifty midcap 100 index saw a decline of 753 points, or 1.52%, landing at 50,335, while the Nifty smallcap 100 index fell by 278 points, or 1.83%, to 15,535.
Conversely, most Asian markets were experiencing losses, with Tokyo, Hong Kong, Bangkok, and Seoul trading in the red, while Jakarta and Shanghai showed some gains.
On Thursday, US stock markets faced a significant downturn, with the Dow dropping by 2.50% and the Nasdaq declining by 4.31%.
Among the top gainers in the Sensex, Tata Motors, Sun Pharma, Tata Steel, Tech Mahindra, HCL Tech, Bajaj Finserv, Adani Ports, Bajaj Finance, M&M, and Power Grid stood out, while TCS and Asian Paints were among the laggards.
Pranay Aggarwal, CEO of Stoxkart, commented, "The recent shifts in U.S. trade policy under President Trump have caused notable volatility in global markets, including India. Although the 90-day tariff pause offers temporary relief, sectors like pharmaceuticals and seafood exports still face ongoing challenges."
"Investors should keep a close eye on trade negotiations and sector-specific news to navigate this uncertain global landscape," he advised.
The Indian rupee opened stronger, appreciating by 51 paise to 86.18 against the dollar, compared to the previous close of 86.69.
Gold prices surged past the $3,200 per ounce mark for the first time, driven by a weaker dollar and escalating trade tensions, prompting investors to seek safe-haven assets.
Foreign institutional investors (FIIs) continued their selling streak for the eighth consecutive day on April 9, offloading equities worth ₹4,358 crore. In contrast, domestic institutional investors (DIIs) maintained their buying momentum for the third day, purchasing equities worth ₹2,976 crore.
You may also like
'I could have disqualified Tiger Woods from the Masters but one phone call saved him'
Woman dies at hotel in busy UK city centre as guests told to 'not leave rooms'
Spaghetti bolognese will taste so much better with 1 surprising ingredient
Britain's Got Talent makes history with major voting change after judges stunned
Britain's Got Talent: Golden audition makes history in well-deserved 'first'
