Sensex rallies by over 1,300 points, Nifty up more than 430 points on US tariff reprieve

The benchmark Sensex and Nifty railed on open as the trading session began today, as a US tariff reprieve lifted sentiment, even as global trade uncertainty continues to linger.

Gift Nifty futures were trading at 22,933.5 as of 8:20am IST, indicating a 2.5% rise from the Nifty 50’s Wednesday close of 22,399.15. Indian markets were closed on Thursday for a local holiday.

The market closed in red after the previous trading session ended on Wednesday, April 9. The Sensex was down by 379.93 points or 0.51 per cent, reaching 73,847.15. The Nifty was 136.70 points down or 0.61 per cent in the red, reaching 22,399.15.

Asian shares fell today, following US stocks which reversed most of their historic gains from the day prior over increasingly deepening worries regarding President Donald Trump’s tariff war.

Japan’s Nikkei 225 index was down 5.6% and South Korea’s Kospi fell 1.6% to 2,400.34. Meanwhile, Australia’s S&P/ASX 200 dropped 2.1% to 7,552.10.

On Thursday, the S&P 500 had fallen as much as 3.5%, cutting into Wednesday’s surge of 9.5% after Trump’s decision to pause most of his tariffs worldwide, except for China. The Dow Jones Industrial Average fell by 1,014 points, or 2.5%, and the tech-heavy Nasdaq composite tumbled 4.3%.