Markets bounce back in tandem with rally in Asian peers

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Equity benchmark indices Sensex and Nifty bounced backmost sharply successful aboriginal commercialized connected Tuesday (February 4, 2025) successful enactment with a betterment successful Asian peers aft U.S. President Donald Trump delayed tariffs connected Mexico and Canada for a month.

Imposition of tariffs connected Canada, Mexico and China by the Trump medication fanned fears of commercialized warfare and had resulted successful markets' diminution connected Monday.

Vikas Jain, Head of Research astatine Reliance Securities, said, U.S. President Donald Trump has delayed tariffs connected Mexico and Canada for a month.

"This move, on with a cooling commercialized war, beardown home manufacturing PMI data, and the Finance Minister's announcement successful the Union Budget — particularly the zero taxation up to ₹12 lakh connected the caller taxation regime—has apt boosted marketplace sentiment," Mr. Jain added.

On Saturday, the White House announced that Trump was implementing a 25 per cent further tariff connected imports from Canada and Mexico and a 10% further tariff connected imports from China.

The 30-share BSE benchmark Sensex jumped 552.6 points to 77,739.34 successful aboriginal trade. The NSE Nifty climbed 173.15 points to 23,534.20.

From the 30-share blue-chip pack, Infosys, Tata Motors, Larsen & Toubro, Mahindra & Mahindra, Adani Ports, State Bank of India, ICICI Bank and Tata Steel were the large gainers.

Power Grid, Hindustan Unilever, Nestle and Asian Paints were among the laggards.

"The diminution successful the dollar scale to 108 is simply a affirmative development. Emboldened by the fantabulous Budget, investors, particularly DIIs, are apt to measurement up investment, peculiarly successful discretionary depletion segments," V.K. Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said.

In Asian markets, Seoul, Tokyo and Hong Kong besides bounced backmost and were trading higher.

U.S. markets ended little connected Monday.

Foreign Institutional Investors (FIIs) offloaded equities worthy Rs 3,958.37 crore connected Monday, according to speech data.

Global lipid benchmark Brent crude dipped 0.50% to USD 75.58 a barrel.

The BSE bellwether scale declined 319.22 points oregon 0.41% to settee astatine 77,186.74 connected Monday, snapping its five-day rally. The Nifty declined 121.10 points oregon 0.52% to 23,361.05.

Published - February 04, 2025 11:17 americium IST