New Delhi [India]April 16 (ANI): Amidst the Global trade uncertainties emanating from the Trump administration’s mutual tariffs and the Chinese counter tariff, the Indian stock indices shut down on Wednesday.
Sensex closed at 77,044.29 points, 309.40 percent or 0.40 percent, Nifty closed at 23,437.20 points, up to 108.65 points or up to 0.47 percent.
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Bajaj Broking said, “The benchmark indices on Wednesday extended the line of winning for the third consecutive season, with strong purchases in the last hour shut the index near the high level of the day.”
Globally, the markets are undergoing fresh consolidation as tariff stress is intensity, increasing US tariffs by 245 percent on Chinese goods.
“Amidst global weakness, the Indian market demonstrated a mild positive feeling in anticipation that the trade fight between the US and China would not be harmed, but India would benefit, and the CPI inflation of March, which is at a 5 -year low, indicated a further cut rate in the near future,” Vinod Nair said, the head of research, geoGit investments limited.
India’s retail inflation has touched a 67 -month low in March, giving some support to the stock index.
Indian stock indices have seen some upmovs since Trump’s decision to stop mutual tariffs on dozens of countries including India for 90 days.
Trump stopped mutual tariffs on dozens of countries that are engaged in conversation with the US administration. However, 125 percent tariffs imposed on China will continue. At the same time, it increased the tariff on China by 245 percent.
Tariff initially stopped a sale in equity globally, and India was no exception. Tariff stopped the fears of trade tension and an economic recession.
Since holding office for his second term in January, President Donald Trump has reiterated his stance on tariff mutuality, stressing that the United States will match the tariffs imposed by other countries including India to ensure proper trade. (AI)
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