Domestic equity markets opened higher on Monday, tracking positive global cues after a US decision striking down certain tariff measures provided relief to investors.
However, market experts cautioned that volatility may persist amid continuing uncertainty over global trade policies and geopolitical developments.
At the opening bell, the benchmark indices traded in positive territory. The Nifty 50 opened at 25,678.40, up 107.15 points or 0.42 per cent. The BSE Sensex began the session at 82,906.83, rising 92.12 points or 0.11 per cent.
Analysts noted that while markets reacted positively to the tariff-related development, fresh tariff announcements and global uncertainties continue to weigh on sentiment.
Banking and market expert Ajay Bagga told ANI that Indian stock futures had surged on Friday following the tariff ruling but pared some gains later. He added that with monthly derivatives expiry approaching and markets currently in an overbought zone, fluctuations are likely in the coming sessions.
Tariff developments remain a key driver for global markets. Former US President Donald Trump had earlier announced a 10 per cent tariff under Section 122 provisions, later raising it to 15 per cent for a limited period of 150 days. Markets saw a relief rally after reports that the US Supreme Court struck down the President’s constitutional authority to levy such tariffs.
In the commodities market, gold prices surged nearly 2 per cent amid tariff-related uncertainty, reaching Rs 1,59,908 per 10 grams for 24-carat gold. Silver prices climbed 6 per cent to Rs 2,68,120 per kilogram, reflecting increased demand for safe-haven assets.
On the sectoral front, most NSE indices traded in the green, except Nifty IT. Nifty Metal rose around 1 per cent, Nifty Auto gained 0.46 per cent, and Nifty Pharma advanced 0.47 per cent. Nifty PSU Bank increased by 0.61 per cent, Nifty Realty edged up 0.46 per cent, and Nifty Consumer Durables climbed 0.58 per cent.
Asian markets also witnessed gains. Singapore’s Straits Times advanced 0.28 per cent, Hong Kong’s Hang Seng surged 2.21 per cent, Taiwan’s Weighted Index rose 1.41 per cent, and South Korea’s KOSPI gained 0.31 per cent. Japanese markets remained closed on account of a holiday.
Market participants will continue to monitor global trade policy signals and geopolitical developments for further direction in the coming sessions.
-ANI
