Markets surge in early trade; Sensex jumps 562 points

Benchmark indices Sensex and Nifty surged in early trade on Monday following news that India has become the fourth largest economy in the world. Moreover, early arrival of monsoon, the Reserve Bank announcing a record Rs 2.69 lakh crore dividend to the government for FY25 and US President Donald Trump delaying 50 per cent EU tariffs to July 9 also added to the optimism of the market, experts said.

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The 30-share BSE benchmark gauge Sensex jumped 562.31 points to 82,283.39 in early trade. The NSE Nifty climbed 175.7 points to 25,028.85. From the Sensex firms, Mahindra & Mahindra, Tata Motors, Titan, ICICI Bank, Tech Mahindra, NTPC, Power Grid and Bajaj Finserv were the biggest gainers. Eternal emerged as the only laggard from the 30-share pack. India has become the fourth largest economy in the world, overtaking Japan, NITI Aayog CEO BVR Subrahmanyam has said. "News of India becoming the fourth largest economy in the world would be a near-term morale boost for the market. RBI's bumper dividend payment to the government, exceeding the budget estimates, will help contain the fiscal deficit target for FY26 at 4.4 per cent. This, in turn, can sustain the low inflation and declining interest rate trend which will co