Benchmark stock market indices closed strongly as Sensex and Nifty rallied over half a percent on Monday, reacting to the US Supreme Court ruling over Trump’s tariffs.
The S&P BSE Sensex gained 479.95 points to end at 83,290.81, while the NSE Nifty50 added 141.75 points to close at 25,713.00.
Vinod Nair, Head of Research, Geojit Investments Limited, said that the US Supreme Court’s ruling against Trump’s reciprocal tariff policy was welcomed by domestic markets.
“Investors are awaiting more clarity on Trump’s revised strategy and the scope of renegotiations by other nations. A weaker US dollar and declining 10year Treasury yields may add a near term caution in the global market,” he added.
The IT index remained under pressure due to ongoing concerns about disruption from artificial intelligence. However, investors showed interest in domestic-focused sectors.
Banking, power, FMCG and consumer discretionary stocks saw buying on hopes that demand will stay strong and the economy will continue to recover.
After the closing bell, Adani Ports and Special Economic Zone Ltd led the Sensex gainers, rising 2.98%. It was followed by Kotak Mahindra Bank Ltd, which gained 2.22%. UltraTech Cement Ltd moved up 1.55%, while Power Grid Corporation of India Ltd added 1.49%. Axis Bank Ltd also ended higher, rising 1.34%.
On the losing side, Infosys Ltd saw the sharpest fall, dropping 1.80%. Tech Mahindra Ltd declined 1.06%, Trent Ltd slipped 0.83%, HCL Technologies Ltd was down 0.74%, and Bajaj Finserv Ltd fell 0.53%.
