Sensex surges 600 points, Nifty tops 25K on global cues; bank, auto stocks rise
The BSE Sensex was trading 617 points, or 0.76%, higher at 82,338. The Nifty50 was up 154 points, or 0.61%, trading at 25,003 around 9:22 am.
Trump on Sunday backed off his threat to speed up 50% tariffs on imports from the EU, agreeing to extend his deadline for trade talks until July 9 after the head of the EU executive body said the bloc needed more time to “reach a good deal.”
From the Sensex pack, M&M, Power Grid, Tech Mahindra, Tata Motors, ICICI Bank, and Bajaj Finserv opened with gains, while only Eternal opened in the red.
Shares of Eternal slipped 4% amid expectations of passive outflows worth $840 million following weightage cuts by global index providers FTSE and MSCI.
On the sectoral front, all major indices were trading higher, with Nifty Bank, Auto, Financial Services, FMCG, IT, and Pharma gaining between 0.5% and 1%.Among individual stocks, smallcap Nibe hit the 5% upper circuit after securing an international order worth Rs 150.6 crore from a leading Israel-based original equipment manufacturer (OEM).Meanwhile, investor focus will now shift to key domestic triggers, with India’s Q4 GDP data due on May 30 and the RBI’s policy decision on June 6. Any signs of economic recovery or policy support could further lift market sentiment and bolster expectations around corporate profitability.
