The Indian stock markets closed higher on Tuesday, recovering from a flat opening after reports of a possible mini trade deal between India and the United States surfaced late last night.
Markets opened under pressure as concerns over US President Donald Trump’s fresh tariff measures weighed on sentiment.
At the end of the trading session, the Sensex gained 270.01 points or 0.32 per cent to close at 83,712.51, while the Nifty rose 61.20 points or 0.24 per cent to settle at 25,522.50.
Financial heavyweights helped the Nifty and Nifty Bank end in the green. Kotak Bank led the gains, rising over 3 per cent after a strong first-quarter update.
On the other hand, Titan was the top loser on the Nifty, slipping 6 per cent after reporting lower-than-expected growth in its jewellery segment.
“Today marked the third consecutive session where the Nifty opened and closed within a narrow range of 25,400 to 25,500. This shows the market is waiting for a trigger before the next move at the index level,” said VLA Ambala, Co-Founder of Stock Market Today.
“The market remains in an uptrend with no signs of reversal yet, but volatility is expected as crude oil, gold, and dollar prices may fluctuate depending on the outcome of Donald Trump’s trade deal,” she added.
Sundar Kewat, Technical and Derivatives Analyst at Ashika Institutional Equity, Ashika Stock Broking, noted that despite global uncertainties triggered by Trump’s announcement of 25–40 per cent tariffs on 14 countries, Indian equity markets opened flat and traded largely sideways throughout the session.
“Trump’s tariffs took centre stage on Monday as letters detailing the new duties were issued to 14 countries. Markets reacted moderately and did not panic like they did from April 2nd to 9th. Over the past 90 days, markets have become more resilient, looking past Trump’s policy ambiguity to actual measures,” Ajay Bagga, Banking and Market Expert, said.
He further added, “The key takeaway on Monday was that the July 9th tariff imposition deadline has now been moved to August 1st, giving another 23 days for negotiations with the affected countries.”
(ANI)
