Sensex Soars 1,100 Points, Nifty Near 22,800 As Markets Cheer Trump Tariffs Pause

Following a turbulent Wednesday and a market holiday on Thursday, the Indian stock market opened on a positive note as US President Donald Trump announced a 90-day pause on tariffs. The Sensex surged to 74,963.47, marking a significant gain of 1116.32 points or 1.51% at the opening bell, while the Nifty also saw a robust start at 22,759.00, up by 359.85 points or 1.61%.

Top Gainers on Sensex are Tata Motors, Sun Pharma, Tata Steel, Tech Mahindra, L&T and HCL Tech and the losing laggards are Nestle India, TCS and Asian Paint

Sudeep Shah, Deputy Vice President & Head of Technical & Derivatives Research at SBI Securities said, "Going ahead, considering the gap up opening, the zone of 22960-23000 will act as an immediate hurdle for the index. If the index sustains above the level of 23000, then we may witness a sharp upside rally upto the 23200 level.     While, on the downside, the zone of 22640-22600 will act as immediate support."

For the Sensex, he said, "Going ahead, considering the gap-up opening, the zone of 74900-75000 will act as a crucial hurdle. While, on the downside, the zone of 74000-73900 will act as crucial support for the index." 
 

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US Markets Crash Again After Trump Reverses Tariff Pause, Tech Stocks Tumble

US Markets Rattled as Tariff Reversal Fuels Recession Fears

However,, the US market is a different story altogether. Post-Trump tariffs pause, Wall Street was rocked by fresh turmoil. The White House reversed course, announcing a sharper-than-expected hike in tariffs on Chinese imports, reigniting fears of a global recession.

On Thursday, markets experienced intense volatility before ending the day with steep losses. The Trump administration revealed that tariffs on Chinese goods would rise to 145%, a significant jump from the previously discussed 125%. The news triggered a broad selloff.

 

The Dow Jones Industrial Average plunged more than 2,100 points at its lowest point of the session, before recovering somewhat to close down 1,014 points, or 2.5%. The S&P 500 dropped 3.46%, while the tech-heavy Nasdaq Composite sank 4.31%.

Tech Stocks Bear the Brunt

Technology stocks were among the hardest hit in the rout. Tesla fell 8%, Apple lost more than 4%, while Nvidia and Meta each dropped nearly 7%. Despite the market turbulence, the 10-year US Treasury yield held relatively steady at 4.39%.

Asian Market Rally
In contrast to Wall Street's downturn, optimism swept through Asia-Pacific markets on Thursday, fueled by hopes that newly imposed tariffs would target China exclusively. Japan's Nikkei 225 led the charge, surging 9.13% to reach 34,609, accompanied by an 8.09% rise in the Topix index.

South Korea's Kospi surged 6.60%, while the Kosdaq climbed 5.97%. Australia's S&P/ASX 200 closed 4.54% higher, and Hong Kong's Hang Seng Index gained 2.06%. Meanwhile, China's CSI 300 edged up 1.31%.