Indian stock markets started the day on a positive note on Tuesday, rising alongside other Asian markets. This boost comes after U.S. President Donald Trump announced he would pause planned tariffs on Canada and Mexico, reducing fears of a global trade war.
The benchmark BSE Sensex rose by 715.74 points, reaching 77,902.48. Meanwhile, the Nifty 50 index climbed 204.60 points to open at 23,565.65. As a result, the total value of all listed companies in India jumped by ₹3.11 lakh crore, amounting to ₹423.43 lakh crore.
Why Is the Stock Market Going Up Today?
1. Trump’s Tariff Delay:
The stock market is bouncing back after Trump decided to hold off on tariffs for the next 30 days, citing progress from Canada and Mexico on trade issues. He mentioned Canada was cracking down on fentanyl and Mexico was sending 10,000 National Guard troops to the border.
Dr. V K Vijayakumar, an expert from Geojit Financial Services, stated that this pause shows Trump’s tactic: initially impose tariffs, then negotiate for better terms. He believes this approach will likely be applied to China, as well. Vijayakumar emphasized that a serious trade war would harm the U.S. economy as well.
Stay tuned for more updates!
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