Mumbai, Feb 23: Domestic stock markets began Monday with gains. Positive cues from international markets and developments such as the cancellation of Trump’s tariffs boosted market sentiment. As a result, indices are moving enthusiastically. Sensex surged over 600 points, trading at 83,458.45, up by 643.74 points at 9:30 AM. Nifty climbed above the 25,700 mark, trading at 25,765.10, up by 193.85 points. The rupee strengthened by 19 paise against the dollar, standing at 90.75.
On the NSE, shares of Axis Bank, HDFC Bank, Max Healthcare, Tech Mahindra, and Hindustan Unilever are performing well. Meanwhile, Cipla, ONGC, Asian Paints, Coal India, and Bajaj Finserv are under pressure.
Last Friday, U.S. markets closed with gains. Today, Asia-Pacific markets are also performing strongly: South Korea’s Kospi rose 1.7%, while Australia’s ASX gained 0.17%.
It is noteworthy that last week the U.S. Supreme Court ruled that Trump’s tariffs on global nations were invalid. However, Trump has again announced a two-phase imposition of 15% tax on global products. Earlier, tariffs on Indian products had been reduced from 50% to 18%, and now they will be set at 15%.
