Street May Party on Halt in Tariffs, But Caution Is Key

A sparkling stock market opening expected on Friday is no reason to disregard caution, and investors loaded up on equities should seize the opportunity to book some profits, market veterans said.

- Ram Sahgal

Stocks surged worldwide after US president Donald Trump paused the rollout of stiff levies on its trading partners excluding China for three months. However, after the White House said on Thursday that China will face levies of 145%, the US markets plunged again.

The Indian markets remained shut on Thursday for Mahavir Jayanti. The Gift Nifty, in response to the overnight and Thursday morning cues, traded at 22,965 at 9:30 PM, pointing to a 600-700plus points or 2.7-3% jump in Nifty when the market opens on Friday.

The Nifty had closed at 22399.15 on Wednesday.

However, the Indian market may see profit-booking at higher levels, if the global markets sour during the day.

Gift Nifty is closed for only three holidays this year—Independence Day (15 August), Mahatma Gandhi Jayanti (2 October), and Laxmi Pujan (21 October).