Markets extend gains as investors cheer UScourt tariff verdict; Sensex climbs 480 pts

Equity benchmark indices Sensex and Nifty closed higher on Monday, tracking gains in PSU bank, auto and financial stocks, as investors’ sentiments improved after the US Supreme Court struck down the Trump administration’s sweeping tariffs.
The 30-share BSE Sensex climbed 479.95 points, or 0.58 per cent, to settle at 83,294.66. During the session, the benchmark jumped 671.44 points, or 0.81 per cent, to hit an intraday high of 83,486.15.
The 50-share NSE Nifty advanced 141.75 points, or 0.55 per cent, to close at 25,713. In the intraday session, it appreciated 200.2 points, or 0.78 per cent, to hit a high of 25,771.45.
Adani Ports was the biggest gainer from the Sensex pack, rising 2.98 per cent, followed by Kotak Mahindra Bank, UltraTech Cement, PowerGrid, Hindustan Unilever, HDFC Bank, Axis Bank, Bharti Airtel, State Bank of India, Titan, Mahindra & Mahindra and Larsen & Toubro were the major gainers.
On the other hand, Infosys, Tech Mahindra, Trent, HCL Technologies, Bajaj Finserv, Tata Consultancy Services, ITC, Bharat Electronics Ltd, Eternal, Tata Steel, and IndiGo ended in losses.
“The US Supreme Court’s ruling against Trump’s reciprocal tariff policy was welcomed by domestic markets. Investors are awaiting more clarity on Trump’s revised strategy and the scope of renegotiations by other nations,” Vinod Nair, Head of Research, Geojit Investments Ltd, said.
A weaker US dollar and declining 10-year Treasury yields may add near-term caution in the global market, he added.
“Sectorally, the IT index faced pressure from unresolved concerns over AI-driven disruption.
“Nonetheless, investors favoured domestic themes, with banks, power, FMCG, and consumer discretionary stocks gaining traction on expectations of resilient demand and economic recovery,” Nair said.
The broader Asian markets closed higher, with Hong Kong’s Hang Seng climbing 2.53 per cent while South Korea’s Kospi went up nearly 1 per cent.
Markets in Japan and mainland China remained closed due to holidays.
European markets were trading on a mixed note in the mid-session deals, with Germany’s DAX slipping 0.44 per cent, while Paris’ CAC 40 and London’s FTSE 100 were trading flat.
Brent crude, the global oil benchmark, slipped 0.38 per cent to USD 71.49 per barrel.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 934.61 crore on Friday, while domestic institutional investors outpaced FIIs by purchasing stocks worth Rs 2,637.15 crore, according to the exchange data.

On Friday, the 30-share BSE Sensex climbed 316.57 points to settle at 82,814.71, while NSE Nifty advanced 116.90 points to close at 25,571.25.