<p>Bengaluru: The Indian markets welcomed Trump’s 90-day tariff pause, with benchmarks BSE Sensex and NSE Nifty both surging close to 2% on Friday, in contrast to fall in the global markets. Most gains were seen in banking, oil and metal stocks.</p>.<p>The 30-share Sensex rose 1,310.11 points or 1.77% to settle at 75,157.26. During the day’s trading, it had jumped up 2.19%. Investors on the benchmark saw their wealth swell by Rs 7.85 lakh crore. The 50-share Nifty, meanwhile, went up 429.40 points or 1.92% to 22,828.55. In intra-day trade, it had rallied 2.34%.</p>.<p>“Markets wrapped up the week on a strong note, gaining nearly 2%, buoyed by positive global cues. The US decision to defer tariffs for all countries except China eased recession concerns, boosting sentiment and lifting fears of a global slowdown,” said Ajit Mishra,SVP Research, Religare Broking Ltd.</p>.India to protect its interests in trade pact with US: Goyal.<p>US President Donald Trump, on Wednesday announced suspension of additional tariffs on India for 90 days until July 9 this year. This means that goods from India will attract a 10% baseline tariff till July 9, but not the 26% tariff. Indian markets were closed on Thursday on account of Mahavir Jayanti.</p>.<p>"An unexpected pause on reciprocal tariffs by the US provided relief in the midst of the uncertainty. Any development in the bilateral trade negotiations can alter the near-term outlook on the export-driven sectors. The supportive domestic environment with an ease in interest rates and a benign inflation trajectory is encouraging investors to have a balanced portfolio to aid in a better risk-reward in the long term," said Vinod Nair, Head of Research, Geojit Investments Ltd.</p>.<p>Tata Steel was the lead gainer among Sensex shares, rising by 4.91% after the company announced a transformation plan, including job cuts, for its Netherlands steel plant to improve efficiency and margins.</p>.<p>Other gainers included HDFC Bank, Reliance Industries, ICICI Bank, Bharti Airtel, Kotak Mahindra Bank, NTPC and Adani Ports.</p>.<p>The BSE smallcap gauge jumped 3.04% and the midcap index rallied 1.84%. All BSE sectoral indices ended higher. World markets largely slumped amid growing concerns due to the escalating tariff war between China and the US.</p>
<p>Bengaluru: The Indian markets welcomed Trump’s 90-day tariff pause, with benchmarks BSE Sensex and NSE Nifty both surging close to 2% on Friday, in contrast to fall in the global markets. Most gains were seen in banking, oil and metal stocks.</p>.<p>The 30-share Sensex rose 1,310.11 points or 1.77% to settle at 75,157.26. During the day’s trading, it had jumped up 2.19%. Investors on the benchmark saw their wealth swell by Rs 7.85 lakh crore. The 50-share Nifty, meanwhile, went up 429.40 points or 1.92% to 22,828.55. In intra-day trade, it had rallied 2.34%.</p>.<p>“Markets wrapped up the week on a strong note, gaining nearly 2%, buoyed by positive global cues. The US decision to defer tariffs for all countries except China eased recession concerns, boosting sentiment and lifting fears of a global slowdown,” said Ajit Mishra,SVP Research, Religare Broking Ltd.</p>.India to protect its interests in trade pact with US: Goyal.<p>US President Donald Trump, on Wednesday announced suspension of additional tariffs on India for 90 days until July 9 this year. This means that goods from India will attract a 10% baseline tariff till July 9, but not the 26% tariff. Indian markets were closed on Thursday on account of Mahavir Jayanti.</p>.<p>"An unexpected pause on reciprocal tariffs by the US provided relief in the midst of the uncertainty. Any development in the bilateral trade negotiations can alter the near-term outlook on the export-driven sectors. The supportive domestic environment with an ease in interest rates and a benign inflation trajectory is encouraging investors to have a balanced portfolio to aid in a better risk-reward in the long term," said Vinod Nair, Head of Research, Geojit Investments Ltd.</p>.<p>Tata Steel was the lead gainer among Sensex shares, rising by 4.91% after the company announced a transformation plan, including job cuts, for its Netherlands steel plant to improve efficiency and margins.</p>.<p>Other gainers included HDFC Bank, Reliance Industries, ICICI Bank, Bharti Airtel, Kotak Mahindra Bank, NTPC and Adani Ports.</p>.<p>The BSE smallcap gauge jumped 3.04% and the midcap index rallied 1.84%. All BSE sectoral indices ended higher. World markets largely slumped amid growing concerns due to the escalating tariff war between China and the US.</p>