Sensex crosses 83,440 mark as US court strikes down tariffs
The Indian stock market kicked off the week with a strong rally—Sensex jumped 630 points to 83,444 and Nifty crossed the 25,700 mark.
This surge came after the US Supreme Court struck down Trump-era broad-based tariffs imposed under a national-emergency law, sparking optimism across global markets.
PSU banks and financial services lead the gains
If you're watching for investment opportunities, sectors like PSU Banks and Financial Services led the gains, rising up to 1.34%.
Big names like Axis Bank and Adani Ports also saw notable upticks.
Experts say this relief rally is tied to improving fundamentals.
Relief rally
The US court's move eased worries about new trade barriers just as India and the US are negotiating a major tariff deal.
As Dr. VK Vijayakumar put it, "From the market perspective the US SC decision is indeed a positive, but this is not sufficient to trigger a sustained rally in the market. The market will see only a relief rally which is unlikely to sustain. The market will respond only to the fundamentals, which are fortunately improving. "—meaning investors are feeling more confident about what comes next.