Domestic benchmark equity indices, Sensex and Nifty, rose over 1.7 per cent during afternoon trades on Thursday after US President Donald Trump said that India has offered to levy no tariffs on US goods.
The BSE’s Sensex rose 1.7 per cent, or 1,387.58 points, to touch 82,718.14. The broader Nifty 50 gained 1.82 per cent, or 449.35 points to 25,116.25 in afternoon trades.
On Thursday, the US President, at an event in Doha, said that the Indian government has “offered us a deal where basically they are willing to literally charge us no tariff”.
“…Zero tariff on US goods by India. It is ultimately positive for the Indian economy,” said an analyst.
India and China are currently negotiating on a bilateral trade agreement.
Among the sectoral indices, Nifty Auto rose 2.08 per cent, Nifty Metal surged 1.65 per cent and Nifty IT was up 1.22 per cent. All broader market indices were in green, with Nifty Midcap 100 rising 0.61 per cent and Nifty Smallcap 100 gaining 0.52 per cent.
NSE stocks that gained the most included Hero Motocorp (6.07 per cent), JSW Steel (4.67 per cent), Trent (3.93 per cent), Shriram Finance (3.7 per cent) and HCL Technologies (3.68 per cent).
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