Mumbai: Indian equity market opened in the green on Friday after US President Donald Trump announced to pause reciprocal tariffs on the country till July 9.
At around 9:22 am, Sensex was up 1,170 points or 1.58 per cent, at 75,017 and Nifty was up 373 points or 1.67 per cent at 22,772.
Along with the largecaps, buying was seen in the smallcaps and midcaps. Nifty midcap 100 index was down 753 points or 1.52 per cent at 50,335 and Nifty smallcap 100 index was down 278 points or 1.83 per cent at 15,535.
However, most Asian markets were trading low. Tokyo, Hong Kong, Bangkok and Seoul were in the red, while Jakarta and Shanghai were in the green.
The US stock markets fell sharply in Thursday’s trading session. The Dow closed down 2.50 per cent and the Nasdaq fell 4.31 per cent.
In the Sensex pack, Tata Motors, Sun Pharma, Tata Steel, Tech Mahindra, HCL Tech, Bajaj Finserv, Adani Ports, Bajaj Finance, Eternal, M&M, Power Grid were top gainers. TCS and Asian Paints were losers.
Pranay Aggarwal, Director and CEO, Stoxkart said, “Recent developments in U.S. trade policy under President Donald Trump have led to significant fluctuations in global markets, including those in India. Even though a 90-day pause on most of these tariffs has provided temporary relief, sectors directly impacted by the tariffs, such as pharmaceuticals and seafood exports, continue to face challenges.”
“Investors are advised to closely monitor ongoing trade negotiations and sector-specific developments to navigate this period of global uncertainty,” he added.
The Indian rupee opened higher by 51 paise at 86.18 per dollar on Friday against Wednesday’s previous close of 86.69.
Gold breached the key $3,200/oz level for the first time to scale a new peak on Friday, fuelled by a weaker dollar and an escalating trade war that sent investors rushing toward safe-haven assets.
The foreign institutional investors (FIIs) continued their selling on the eighth day on April 9, as they sold equities worth Rs 4,358 crore. However, domestic institutional investors (DIIs) extended their buying on the third day as they bought equities of Rs 2,976 crore.
(IANS)
