Tariff Rollback Boosts Markets; Indices End in Positive Territory

The U.S. Supreme Court’s ruling on the implementation of tariffs had a positive impact on domestic equity markets, leading benchmark indices to close higher on Monday. Stocks from the PSU banking, automobile and financial services sectors were among the top performers during the session.

Amid strong buying interest, the BSE Sensex surged 479 points to close at 83,294.66. During intraday trade, the index climbed as much as 671.44 points to touch 83,486.15. Meanwhile, the NSE Nifty advanced 141.75 points to settle at 25,713. Notably, this marked the second consecutive session of gains for the benchmark indices. Market breadth remained mixed. On the BSE, 2,435 stocks declined, while 1,894 shares ended in positive territory. A total of 168 stocks closed unchanged.

Market analysts noted that the U.S. Supreme Court’s decision to revoke the implementation of certain tariffs boosted investor sentiment. They added that the market largely brushed aside former President Donald Trump’s announcement regarding the re-imposition of 15% duties. However, analysts cautioned that the weakening U.S. dollar and declining yields on 10-year U.S. Treasury bonds could have a medium-term impact on global markets. In Monday’s trading, the PSU Bank index gained 1.4%, the Hospital index rose 0.89%, the Services sector advanced 0.97%, the Automobile index climbed 0.71% and the Financial Services index added 0.65%.