Indian Shares Rise on EU Tariff Relief, Record RBI Dividend

Indian shares advanced on Monday, extending gains from the previous session, on easing global trade tensions and the Reserve Bank of India's (RBI) record dividend transfer, which ended up reaffirming prospects of sustained fiscal consolidation.

- Reuters

The Nifty 50 closed 0.6% higher at 25,001.15.

Meanwhile, the BSE Sensex traded 0.56% higher to close at 82,176.45.

US President Donald Trump had also backed off on his threat to impose 50% tariffs on imports from the European Union (EU).

This had the effect of easing trade concerns and also potentially hinting "that the US may reduce its aggression in the trade war, which is a positive," according to G Chokkalingam, the founder and head of research at Equinomics Research and Advisory.

As a result, the US and EU now have time until July 9 to work on a trade deal.