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Benchmarks gain about 2% on US tariff pause
The New Indian Express Sambalpur
|April 12, 2025
Broader market indices Nifty Midcap 100 and Smallcap 100 also see strong gains of 1.90% and 2.80%, respectively
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.
This story is from the April 12, 2025 edition of The New Indian Express Sambalpur.
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