Sensex, Nifty surge over 2 pc on global markets rally after Trump relaxes tariffs on electronics
Mumbai, Apr 15 (PTI): Benchmark equity indices Sensex and Nifty surged over 2 per cent on Tuesday, tracking a rally in global markets after US President Donald Trump relaxed some of the tariffs on electronics products and hinted at duty revision for automobiles.
Rallying for the second straight session, the 30-share BSE Sensex jumped 1,577.63 points or 2.10 per cent to settle at 76,734.89. During the day, it zoomed 1,750.37 points or 2.32 per cent to 76,907.63, driven by the across-the-board rally.
The NSE Nifty surged 500 points or 2.19 per cent to 23,328.55. Intra-day, it rallied 539.8 points or 2.36 per cent to 23,368.35. The key indices have recovered almost all the losses induced by Trump's reciprocal tariffs announced on April 2.
All the BSE sectoral indices closed in the green. BSE Realty, Auto, Capital Goods and Industrials were lead gainers, jumping up to 5 per cent.
IndusInd Bank was the lead gainer among Sensex shares, surging by 6.84 per cent. Tata Motors rallied 4.50 per cent. Larsen & Toubro, Axis Bank, Adani Ports, HDFC Bank, ICICI Bank and HCL Tech were also among the gainers.
ITC and Hindustan Unilever were the only laggards.
Trump has suggested that he might temporarily exempt the auto industry from tariffs that were imposed earlier.
"The rally is fuelled by the surprise pause in reciprocal tariffs which continued today led by the exemption on electronics goods also. Auto stocks gained on potential tariff relief and banking stocks benefited from deposit rate cuts.
"Domestically, the focus has shifted to the earnings season which has a weak forecast while global recovery and RBI’s accommodative stance are supporting sentiment," Vinod Nair, Head of Research, Geojit Investments Limited, said.
The BSE smallcap gauge jumped 3.21 per cent and midcap index rallied 3.02 per cent.
All BSE sectoral indices ended higher. Realty zoomed 5.81 per cent, Industrials soared 3.76 per cent, capital goods (3.67 per cent), auto (3.39 per cent), consumer discretionary (3.12 per cent), financial services (2.94 per cent) and metal (2.75 per cent).
As many as 3,302 stocks advanced while 785 declined and 169 remained unchanged on the BSE.
In Asian markets, South Korea's Kospi index, Tokyo's Nikkei 225, Shanghai SSE Composite and Hong Kong's Hang Seng settled in the positive territory. Markets in Europe were trading with gains. US markets ended higher on Monday.
Trump said he was temporarily exempting smartphones, computers and other electronics items from his tariffs.
"Benchmark indices extended the sharp gains on Tuesday, after Donald Trump carved out more exemptions from tariffs even as uncertainty continued. Broader mid and smallcaps also posted strong gains and so are all major sectors. Markets opened sharply higher on mostly positive global cues after the US removed smartphones and other electronics from its tariffs on China.
"Trump also suggested he might grant exemptions on the 25% levies for automobiles that are already in place, leading to a sharp rally in auto stocks. The latest tariff adjustments suggest the White House is recognizing the pressure on American consumers and the broader economy," Satish Chandra Aluri, Analyst, Lemonn Markets Desk, said.
Meanwhile, wholesale price inflation eased to 2.05 per cent in March, as against 2.38 per cent in February, government data showed on Tuesday.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,519.03 crore on Friday, according to exchange data.
Global oil benchmark Brent crude dropped 0.52 per cent to USD 64.54 a barrel.
Sensex jumped 1,310.11 points or 1.77 per cent to settle at 75,157.26 on Friday. Nifty surged 429.40 points or 1.92 per cent to 22,828.55. Equity markets were closed on Monday for Dr Baba Saheb Ambedkar Jayanti.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Krunal's rare IPL fifty helps RCB beat DC and extend unbeaten away run
RCB jump to top of IPL 2025 points table
New Delhi, Apr 27 (PTI): Krunal Pandya recorded his first fifty in IPL since 2016, helping Royal Challengers Bengaluru pull off a six-wicket win over Delhi Capitals on a challenging Feroz Shah Kotla track here on Sunday.
Krunal (73 not out of 47 balls), who has part of every IPL season since his debut in 2016, paced his innings perfectly while batting alongside chase master Virat Kohli (51 off 47).
The duo shared a 119-run stand off 84 balls as RCB chased down 163 in 18.3 overs to extend their unbeaten run away from home.
RCB bowlers put a squeeze on Delhi Capitals in the middle overs through Josh Hazlewood and the spinners to limit the home team to 162 for six.
For RCB, it was their seventh win in 10 games while DC suffered only their third loss in nine matches. Both teams are on course to make the play-offs.
At 26 for three, RCB felt the heat before Krunal and Kohli bailed them out.
In his maiden season for RCB, Krunal has made valuable contributions with both bat and ball.
On Sunday night, Kohli played the perfect anchor as Krunal came up with timely hits on a difficult surface to deliver a fine win for his team. His straight hit through the line off Mukesh Kumar and an aerial drive over cover off the wily Kuldeep Yadav stood out among his four sixes.
Kohli's consistency has been remarkable this season and the knock against DC was his sixth 50-plus score in 10 innings. The highlight of his solid effort was the straight drive off Mitchell Starc.
The night, however, belonged to Krunal who collected only his second 50-plus score in 116 IPL innings.
Earlier, K L Rahul (41 off 39 balls) was the top-scorer for DC but it was Tristian Stubbs (34 off 18 balls) who helped the hosts post a fighting total.
RCB put the opposition in to bat, expecting better batting conditions during the run chase.
Faf du Plessis (22 off 26 balls) returned from injury to join Abhishek Porel (28 off 11) at the top of the order but it was the latter who ensured DC reached 52 for two in the powerplay.
The southpaw, who has been in fine form this season, came up with a couple of sizzling sixes in his entertaining cameo. Both came off Bhuvneshwar Kumar -- one was a left-handed hit over mid-wicket and the second was a pick-up shot over fine leg.
As veteran du Plessis struggled to get going at the other end, Porel found the ropes with relative ease.
Lead RCB pacer Hazlewood, who has been relentless with his hard lengths, took three balls to get the breakthrough as he cramped Porel to have him caught behind down the leg side.
Karun Nair, who began with a short arm pull off Hazlewood for a boundary, played an ordinary shot off Yash Dayal in the following over and his mishit was pouched at mid-wicket.
The spinners got into operation after the powerplay and overs 7-10 was the phase when RCB were able to stem the flow of runs, conceding just 20 runs off the four overs from Suyash Sharma and Krunal Pandya, who got rid of du Plessis in that period.
It was only towards the end of the innings that DC managed to get some momentum, all thanks to the blitzkrieg from Stubbs.
The 18th and 19th over from Hazlewood and Dayal yielded 17 and 19 runs, enabling DC to cross the 160-run mark.
Brief Scores:
Delhi Capitals: 162 for 8 in 20 overs (KL Rahul 41; Bhuveshwar Kumar 3/33).
Royal Challengers Bengaluru: 165 for 4 in 18.3 overs (Krunal Pandya 73, Virat Kohli 51; Axar Patel 2/19).
