Benchmarks gain about 2% on US tariff pause

Broader market indices Nifty Midcap 100 and Smallcap 100 also see strong gains of 1.90% and 2.80%, respectively

- ARSHAD KHAN @ New Delhi

THE domestic equity market gained sharply on Friday, buoyed by positive global sentiment after US President Donald Trump announced a 90-day suspension of reciprocal tariffs.

The benchmark indices - BSE Sensex advanced 1,310 points or 1.77% to settle at 75,157, and NSE Nifty50 surged 429 points or 1.92% to close at 22,828. Broader market indices mirrored the benchmarks with the Nifty Midcap 100 and Smallcap 100 indices witnessing strong gains of 1.90% and 2.80%, respectively.

Except for TCS and Asian Paints, the remaining 28 stocks in the Sensex pack were trading in the green. Tata Steel rallied 5%, followed by Kotak Mahindra Bank, Power Grid, NTPC and Reliance Industries.

The rally followed the Trump administration's decision to temporarily halt tariffs on 75 countries, including India. While the 10% tariffs on imports remain in place, the US will not impose retaliatory duties for the next three months.