Optimism swept through Dalal Street as Indian shares opened robustly Monday, propelled by a pivotal US Supreme Court ruling dismantling Trump-era tariffs. By 9:33 AM, Sensex was up 566 points (0.68%) at 83,401; Nifty gained 183 points to 25,754.
The financial sector orchestrated the upswing, with Nifty PSU Bank and Financial Services leading advances. Broad participation came from auto, metal, services, consumption, realty, and FMCG indices—all green. IT and media alone traded lower.
Sensex toppers: Adani Ports, Axis Bank, Kotak Mahindra Bank, HDFC Bank, M&M, HUL, ICICI Bank, Power Grid, Titan, Bharti Airtel, Bajaj Finance, Maruti Suzuki, Tata Steel, Ultratech Cement, ITC, Asian Paints, Eternal, Sun Pharma. Losers: Infosys, Tech Mahindra, HCL Tech, TCS, NTPC, Indigo.
Smallcaps shone brighter, Nifty Smallcap 100 rising 138 points (0.81%) to 17,140. Midcap 100 stayed rangebound.
The catalyst? US Supreme Court’s 6-3 Friday verdict striking down tariffs invoked via the 1977 International Emergency Economic Powers Act, deeming them an executive overstep sans Congressional nod. Tariffs are Congress’s domain.
Global cues aligned: Asian markets (Hong Kong, Jakarta, Bangkok, Seoul) advanced; US bourses ended Friday positively.
This development promises relief for trade-sensitive economies, bolstering India’s financials amid expectations of looser global trade winds. Watch for intraday profit-taking as the session unfolds.