Sensex, Nifty surge nearly 2 pc as US suspends additional 26 pc tariffs on India till July 9
Mumbai (PTI): Benchmark Sensex surged by 1,310 points while Nifty closed above 22,900 level on Friday on gains in banking, oil and metal shares as investors rejoiced the 90-day suspension of additional import duties by the US.
Defying a bearish trend in world markets, the 30-share BSE benchmark Sensex jumped 1,310.11 points or 1.77 per cent to settle at 75,157.26. During the day, it soared 1,620.18 points or 2.19 per cent to 75,467.33.
The NSE Nifty surged 429.40 points or 1.92 per cent to 22,828.55. In intra-day trade, the benchmark rallied 524.75 points or 2.34 per cent to 22,923.90.
The US announced suspension of additional tariffs on India for 90 days until July 9 this year, according to the White House executive orders. On April 2, US President Donald Trump slapped universal duties on about 60 countries exporting goods to America and additional steep levies on countries like India, potentially impacting sales of products from shrimp to steel in the world's biggest economy.
Tata Steel was the lead gainer among Sensex shares, rising by 4.91 per cent after the company announced a transformation plan, including job cuts, for its Netherlands steel plant to improve efficiency and margins.
HDFC Bank rose by 2.33 per cent, emerging as the biggest contributor to the Sensex's rise. Reliance Industries, ICICI Bank, Bharti Airtel, Kotak Mahindra Bank, NTPC and Adani Ports were among the gainers.
IT behemoth TCS dropped 0.43 per cent after the company reported a 1.7 per cent decline in the March quarter net profit due to lower margins. Asian Paints declined 0.76 per cent.
"An unexpected pause on reciprocal tariffs by the US provided relief in the midst of the uncertainty. Though the IT major’s (TCS) result missed the street estimates, it opines optimism in the latter half of FY26 owing to growth in the order book," Vinod Nair, Head of Research, Geojit Investments Limited, said.
The BSE smallcap gauge jumped 3.04 per cent and midcap index rallied 1.84 per cent.
All BSE sectoral indices ended higher. Commodities surged the most by 3.40 per cent, followed by consumer durables (2.92 per cent), utilities (2.76 per cent), power (2.64 per cent), energy (2.51 per cent), industrials (2.34 per cent) and consumer discretionary (2.25 per cent).
As many as 3,115 stocks advanced while 846 declined and 118 remained unchanged on the BSE.
Equity markets would remain closed on Monday for Dr. Baba Saheb Ambedkar Jayanti.
World markets largely slumped amid growing concerns due to a tit-for-tat tariff war between China and the US.
Tokyo's Nikkei 225 index and South Korea's Kospi settled lower while Shanghai SSE Composite index and Hong Kong's Hang Seng ended higher. Tokyo's Nikkei 225 index dropped nearly 3 per cent. European markets were trading lower.
US markets ended significantly lower on Thursday a day after a sharp rally. The Nasdaq composite tanked 4.31 per cent, S&P 500 slumped 3.46 per cent and Dow Jones Industrial Average dropped 2.50 per cent.
China on Friday raised its additional tariffs on imports from the US to 125 per cent in retaliation to the Trump administration's 145 per cent levies on Chinese exports.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 4,358.02 crore on Wednesday.
Indian stock markets were closed on Thursday for Shri Mahavir Jayanti.
Global oil benchmark Brent crude climbed 0.32 per cent to USD 63.53 a barrel.
On Wednesday, the BSE benchmark dropped 379.93 points or 0.51 per cent to settle at 73,847.15. The Nifty declined 136.70 points or 0.61 per cent to 22,399.15.
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Kohli visits spiritual leader Premanand Govind Sharan Ji Maharaj in Vrindavan
Mathura, May 13 (PTI): Star India batter Virat Kohli and his actor wife Anushka Sharma visited spiritual leader Premanand Govind Sharan Ji Maharaj in Vrindavan on Tuesday, a day after announcing his retirement from Test cricket.
A video of the couple seeking blessings from the saint was shared on micro-blogging platform ‘X’ by the disciples of the revered leader.
The clip featured a brief interaction between the couple and the spiritual leader, who asked Kohli if he was happy.
Kohli and Anuskha listened with rapt attention when Premanand ji emphasised the significance of inner reflection and the transformative power of chanting God's name with devotion to attain inner peace and spiritual liberation.
The couple spent over three hours at the Shri Radha Keli Kunj Ashram located near Varaha Ghat. Following his spiritual interaction, Kohli toured other initiatives run by the ashram and also visited the nearby ashram of Gaurangi Sharan Maharaj, the guru of Premanand Ji Maharaj, before returning.
This marked Kohli's third visit to the ashram ' his previous ones were on January 10 this year and on January 4, 2023.
Kohli announced his retirement from Test cricket on Monday, drawing the curtains on a stellar red-ball career. He represented India in 123 Tests, scoring 9,230 runs at an average of 46.85, including 30 centuries.
Kohli led India to 40 wins in 68 Tests -- the most by any Indian skipper to date.
Virat Kohli & Anushka Sharma से पूज्य महाराज जी की क्या वार्तालाप हुई ? Bhajan Marg pic.twitter.com/7IWWjIfJHB
— Bhajan Marg (@RadhaKeliKunj) May 13, 2025
