Sensex Rises 555 Points, Nifty Tops 24,620 Amid Upbeat GDP Data

Indian benchmark indices Sensex and Nifty rose 0.70% and 0.81%, respectively, snapping a three-day losing streak. Stronger-than-expected GDP data boosted investor confidence, while investors also took relief from a US court ruling on tariffs. Top gainers included Mahindra & Mahindra, Tata Motors, Trent, and Infosys, with auto stocks leading the advance, up 2.8%. IT firms also advanced, with the Nifty IT index up 1.6%.

Title: Indian Markets Rally on Strong GDP Data and U.S. Court Ruling on Tariffs

Indian benchmark indices Sensex and Nifty rose 0.70% and 0.81%, respectively, snapping a three-day losing streak. The rally was driven by stronger-than-expected GDP data for the April-June quarter, which boosted investor confidence. Additionally, investors took relief from a U.S. court ruling that deemed most of President Donald Trump’s tariffs illegal, although they remain in place until mid-October.

The BSE Sensex advanced 333.94 points, or 0.42%, to open at 80,143.59, while the NSE Nifty jumped 84.45 points, or 0.35%, to open at 24,511.30 [1]. Auto stocks led the advance, with the Nifty Auto index up 2.8%. IT firms also advanced, with the Nifty IT index up 1.6% [2]. Top gainers included Mahindra & Mahindra, Tata Motors, Trent, and Infosys.

The market was buoyed by India’s April-June GDP growth of 7.8%, which exceeded forecasts. However, concerns remain about the potential impact of U.S. trade policies on future business activity [1]. A divided U.S. appeals court ruled that most tariffs imposed under President Donald Trump were unlawful but allowed them to remain in place temporarily while the administration prepares an appeal to the Supreme Court [1].

Market participants are also watching Prime Minister Narendra Modi’s visit to China, his first in seven years, for meetings at the Shanghai Cooperation Organization alongside Russian President Vladimir Putin and other Asian leaders [1]. The U.S. court ruling that Trump’s tariffs are illegal is a significant development, and investors will await the final verdict by the U.S. Supreme Court on the issue [1].

References

[1] https://economictimes.indiatimes.com/markets/stocks/news/sensex-jumps-over-300-pts-nifty-tops-24500-as-it-stocks-banks-advance-on-upbeat-gdp-u-s-courts-ruling/articleshow/123625664.cms
[2] https://www.moneycontrol.com/news/business/markets/sensex-gains-300-pts-nifty-reclaims-24-500-strong-q1-gdp-data-among-key-factors-behind-market-rally-13506106.html