Mumbai, May 29 (PTI) Equity benchmark indices Sensex and Nifty surged in early trade on Thursday after two days of decline, mirroring a rally in Asian markets amid positive developments on the US tariffs front.
Also, foreign fund inflows drove equity markets higher.
The 30-share BSE benchmark gauge Sensex jumped 504.57 points to 81,816.89 in early trade. The NSE Nifty climbed 137.25 points to 24,889.70.
From the Sensex firms, Infosys, Tata Steel, Tech Mahindra, HCL Tech, Tata Consultancy Services, Sun Pharma, Tata Motors and HDFC Bank were among the biggest gainers.
UltraTech Cement, Bajaj Finance, Bajaj Finserv and Nestle were among the laggards.
A US federal court has blocked President Donald Trump from imposing sweeping tariffs on imports under an emergency-powers law.
“The US federal court striking down the reciprocal tariffs is a clear message that the president cannot ride roughshod over markets and economy with his questionable decisions.
“This court ruling is the second big blow to President Trump after the blow delivered by the bond market which forced the Trump administration to pause the tariffs for 90 days. From the market perspective, this is a positive development,” V K Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said.
In Asian markets, South Korea’s Kospi, Japan’s Nikkei 225 index, Shanghai’s SSE Composite index and Hong Kong’s Hang Seng were trading in the positive territory.
US markets ended lower on Wednesday.
Foreign Institutional Investors (FIIs) bought equities worth Rs 4,662.92 crore on Wednesday, according to exchange data.
India’s industrial production growth slowed to 2.7 per cent in April 2025 due to poor performance of manufacturing, mining and power sectors, according to official data released on Wednesday.
Global oil benchmark Brent crude jumped 1.11 per cent to USD 65.62 a barrel.
The 30-share BSE barometer declined 239.31 points or 0.29 per cent to settle at 81,312.32 on Wednesday. The Nifty dropped 73.75 points or 0.30 per cent to 24,752.45.
