Mumbai, April 11, 2025 — Indian stock markets surged on Friday following the US government’s decision to suspend higher tariffs on India and other nations for a period of 90 days. This announcement brought a wave of optimism to domestic markets, propelling the BSE Sensex up by 1,310 points and the NSE Nifty by 429 points, despite prevailing global market concerns arising from escalating trade tensions between the US and China.
In stark contrast to global markets, which continued to reel under negative sentiment due to the deepening US-China trade conflict, Indian equities saw robust buying. The BSE 30-share benchmark Sensex soared 1,310.11 points, or 1.77 percent, to close at 75,157.26. During intraday trading, the index peaked with a gain of 1,620.18 points, reaching 75,467.33. Meanwhile, the NSE Nifty jumped 429.40 points, or 1.92 percent, ending the session at 22,828.55, after briefly touching a high of 22,923.90.
As per agency report, 28 out of 30 Sensex constituents closed in the green. Tata Steel led the rally with a 4.91 percent gain, followed by HDFC Bank which advanced by 2.33 percent. Other notable gainers included Power Grid, NTPC, Kotak Mahindra Bank, Reliance Industries, and Adani Ports. On the downside, shares of Asian Paints and Tata Consultancy Services (TCS) ended with losses.
Vinod Nair, Head of Research at Geojit Financial Services, noted that the market welcomed the unexpected pause in retaliatory tariffs. He added that while TCS’s quarterly results underperformed market expectations, its growing order book suggests recovery in the latter half of the financial year.
The White House announced that additional tariffs imposed on India will be suspended until July 9, offering temporary relief amidst broader trade tensions. This development reversed the mood set earlier on April 2, when US President Donald Trump had imposed sweeping tariffs on exports from around 60 countries, including India.
The broader BSE Smallcap index jumped 3.04 percent, while the Midcap index climbed 1.84 percent. All sectoral indices ended higher, with the commodity index rising the most at 3.40 percent, followed by consumer durables at 2.92 percent and the power index at 2.64 percent.
Out of 4,079 actively traded stocks on the BSE, 3,115 advanced, 846 declined, and 118 remained unchanged.
However, global equity markets remained under pressure due to trade war concerns. In Asia, Japan’s Nikkei and South Korea’s Kospi closed lower, while China’s Shanghai Composite and Hong Kong’s Hang Seng managed to end higher. European markets also traded in negative territory, while US markets saw significant losses on Thursday. The Nasdaq Composite fell 4.31 percent, the S&P 500 declined by 3.46 percent, and the Dow Jones Industrial Average dropped by 2.50 percent.
In a retaliatory move, China raised tariffs on US imports to 125 percent on Friday after the Trump administration’s decision to increase duties on Chinese goods to 145 percent.
Meanwhile, foreign institutional investors (FIIs) recorded a net outflow of Rs 4,358.02 crore on Wednesday. Indian markets were closed on Thursday for Mahavir Jayanti.
Global oil benchmark Brent crude edged up 0.32 percent to $63.53 per barrel.
On Wednesday, prior to the rally, the BSE Sensex had declined by 379.93 points to 73,847.15 and the Nifty by 136.70 points to 22,399.15.
