The BSE benchmark Sensex has recovered all the losses it suffered since the US reciprocal tariffs were announced earlier this month thanks to a remarkable bounce back in the index.
Rallying for the second straight session on Tuesday, the BSE benchmark gauge jumped 1,577.63 points or 2.10 per cent to settle at 76,734.89. In two days, the benchmark Sensex has surged 2,887.74 points or 3.91 per cent.
The reciprocal tariffs were announced on April 2 and since then the Sensex has fallen on four trading days. Since April 2 till April 7, the bellwether gauge tumbled 3,479.54 points or 4.54 per cent.
The benchmark index bounced back on April 8th trading session but again slipped on April 9.
From April 2 till April 15, the BSE barometer climbed 117.45 points or 0.15 per cent.
During this period, stock markets remained closed on two occasions, on April 10 for Shri Mahavir Jayanti and April 14 due to Dr Baba Saheb Ambedkar Jayanti.
The NSE Nifty is hovering near the closing level of April 2 at 23,332.35. The benchmark ended at 23,328.55 level on Tuesday.
Equity benchmark indices jumped nearly 2 per cent on Friday as investors rejoiced the 90-day suspension of additional import duties by the US.
“Benchmark indices extended the sharp gains on Tuesday after Donald Trump carved out more exemptions from tariffs even as uncertainty continued. Markets opened sharply higher on mostly positive global cues after the US removed smartphones and other electronics from its tariffs on China. Trump also suggested he might grant exemptions on the 25 per cent levies for automobiles that are already in place, leading to a sharp rally in auto stocks.
Also Read: Sensex surges 1,750 points, Nifty climbs 539 on eased Trump tariffs
“The latest tariff adjustments suggest the White House is recognising the pressure on American consumers and the broader economy,” Satish Chandra Aluri, Analyst at Lemonn Markets Desk, said.
Donald Trump relaxed some of the tariffs on electronic products
Investors added ₹18.42 lakh crore to their wealth in two days of sharp rally in equities mirroring a surge in global markets after US President Donald Trump relaxed some of the tariffs on electronics products and hinted at duty revision for automobiles.
“Markets are adjusting the new reality of daily Trump twists and turns. Sometimes when tariffs look like they have been temporarily removed the markets will react positively, when something unexpected happens they will react negatively,” Vikas Gupta, CEO and Chief Investment Strategist at OmniScience Capital, said.
