Sensex jumps over 500 points in early trade
Equity benchmark indices Sensex and Nifty surged in early trade on Thursday (May 29, 2025) after two days of decline, mirroring a rally in Asian markets amid positive developments on the US tariffs front.
Also, foreign fund inflows drove equity markets higher.
The 30-share BSE benchmark gauge Sensex jumped 504.57 points to 81,816.89 in early trade. The NSE Nifty climbed 137.25 points to 24,889.70.
From the Sensex firms, Infosys, Tata Steel, Tech Mahindra, HCL Tech, Tata Consultancy Services, Sun Pharma, Tata Motors and HDFC Bank were among the biggest gainers.
UltraTech Cement, Bajaj Finance, Bajaj Finserv and Nestle were among the laggards.
A U.S. federal court has blocked President Donald Trump from imposing sweeping tariffs on imports under an emergency-powers law.
"The US federal court striking down the reciprocal tariffs is a clear message that the President cannot ride roughshod over markets and economy with his questionable decisions.
"This court ruling is the second big blow to President Trump after the blow delivered by the bond market which forced the Trump administration to pause the tariffs for 90 days. From the market perspective, this is a positive development," V K Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said.
In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng were trading in the positive territory.
US markets ended lower on Wednesday.
Foreign Institutional Investors (FIIs) bought equities worth ₹4,662.92 crore on Wednesday (May 28), according to exchange data.
India's industrial production growth slowed to 2.7 per cent in April 2025 due to poor performance of manufacturing, mining and power sectors, according to official data released on Wednesday.
Global oil benchmark Brent crude jumped 1.11 per cent to USD 65.62 a barrel.
The 30-share BSE barometer declined 239.31 points or 0.29 per cent to settle at 81,312.32 on Wednesday. The Nifty dropped 73.75 points or 0.30 per cent to 24,752.45.
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Time of India
36 minutes ago
- Time of India
As the TACO trade gains popularity, here are multiple occasions when Trump threatened and then backtracked
Trump promised tough tariffs during both his campaigns and in his second term, he's made many threats but followed through on fewer. The constant back-and-forth on tariffs has made businesses uncertain, caused job cuts, delayed investments, and shook the stock market, as per reports. Financial analysts have started calling this behavior TACO trade , meaning 'Trump Always Chickens Out.'When asked about this phrase, Trump got defensive and said, 'It's called negotiation.' This information is from an NBC News report. 10 times Trump threatened tariffs but then backed down 1. European Union Tariffs Trump said on a Friday that he would put 50% tariffs on the E.U. starting June 1 because they weren't serious about trade talks. Two days later, he delayed them until July 9 after speaking with E.U. Commission President Ursula von der Leyen said that on April 2, he first announced 20% tariffs, but later the same day, he lowered them to 10% for 90 days. As per NBC News, E.U. tariffs are still at 10% today. 2. Wine Tariff On March 13, Trump posted he'd slap a 200% tariff on E.U. wine after the E.U. threatened 50% on American whiskey. This back-and-forth never happened. A week later, the E.U. stated that the whiskey tariff would be delayed to give time for discussions. No special wine tariffs were added, only the usual 10% one, as per reports. Live Events 3. Canada and Mexico Tariffs Early in office, Trump said he'd put 25% tariffs on imports from Canada and Mexico due to fentanyl concerns. Canada and Mexico hit back with tariffs, and Canadian citizens boycott U.S. goods. Trump paused the tariffs a day before they were to start, saying both countries were improving border actions. According to the reports, on March 4, he said tariffs were back on, but two days later, paused them again until April 2. When he announced wider global tariffs on April 2, he excluded Canada and Mexico. Today, most goods from both countries have no new tariffs, thanks to the North American trade deal. 4. Tariff on Films On May 4, Trump tweeted he wanted a 100% tariff on all foreign movies. Later that day, the White House said nothing was final, and they were 'exploring options.' By afternoon, Trump said he'd talk to movie industry people to keep them 'happy.' No movie tariffs have been implemented, as per reports. 5. Reciprocal Tariffs As per reports, Trump announced tariffs on almost all countries on 'Liberation Day,' saying they'd range from 10% to 49%. He said this would restart American industry and wealth. But on April 9, the day the tariffs were supposed to begin, he delayed them until July 2 to work on separate trade deals. Meanwhile, he kept a blanket 10% tariff. Only the UK got a draft trade deal. A trade court ruled Trump went too far with these tariffs; the ruling is being appealed. 6. China Tariffs Trump repeatedly accused China of cheating the U.S. and shooting tariffs to over 145% in April. This caused U.S. companies to stop China orders and shipments. Then Trump lowered tariffs to 10% for 90 days to start talks after a meeting between Treasury Sec. Scott Bessent and Chinese officials. A separate 20% tariff on fentanyl ingredients from China stayed. A court ruling this week struck down both tariffs, but they remain during appeals, as stated in the reports. 7. Tariff on iPhones After raising China tariffs, Trump made an exception for iPhones, lowering it to 20%. Last Friday, he said he'd put a 25% tariff on iPhones no matter where they're made, starting at the end of June. Trump wants iPhones to be made in the U.S., but Apple is shifting production to India. As mentioned in the report by NBC News, officials walked it back. Treasury Sec. Bessent said it's more about phone chips than full phones. Kevin Hassett said the move was just a small negotiation tactic and they don't want to 'harm Apple.' 8. Colombia Tariff After Colombia blocked two U.S. military flights carrying migrants on his sixth day back in office, Trump threatened to impose 25% tariffs. Colombia replied with their own 25% tariff, but soon allowed the sides dropped the threats within a day. 9. Tariff on Dolls On May 8, Trump said he'd put a 100% tariff on Mattel toys, even if they stopped making them in China, unless they moved production to the U.S. He said if prices went up, kids in the U.S. would just have fewer dolls. Later, Trump said the U.S. should focus on making high-tech items like chips, computers, tanks, ships, not toys or T-shirts. 10. Auto Tariffs Announcement of a 25% tariff on all foreign-made cars was made by Trump on April 3. A month later, he eased some of those to avoid hurting the U.S.-assembled cars that use foreign parts. He later said cars from the U.K., like Land Rover and Aston Martin, would get just a 10% tariff under a draft U.S.-U.K. trade deal still being negotiated, as per NBC News report. FAQs: Q1. What is TACO trade? TACO trade stands for 'Trump Always Chickens Out,' which refers to Trump's habit of backing down on tariff threats . Q2. How do Trump's tariff threats affect? They cause uncertainty, delay investments, and impact jobs and the stock market.
Time of India
36 minutes ago
- Time of India
US stock market today: Dow edges up but S&P 500 and Nasdaq fall as Trump's China tariff threat hits Apple, Nvidia, Regeneron and Gap—even as inflation cools
US Stock Market Today: S&P 500 and Nasdaq Slip as US-China Tensions Flare Up, Even as Inflation Cools- The stock market today showed mixed signals as Wall Street reacted to fresh concerns over US-China trade tensions while digesting key inflation data. The S&P 500 dropped 0.1%, and the Nasdaq Composite slipped around 0.3%. In contrast, the Dow Jones Industrial Average inched up by 0.1%, showing some resilience. Investors faced two competing stories: cooling inflation pressures and growing uncertainty around tariffs between the world's two biggest economies. President Trump's latest remarks about China 'totally violating its agreement' with the US reignited trade concerns, especially as talks appear to have stalled. Meanwhile, inflation data brought a bit of relief, showing price pressures are starting to ease. Market summary – how the major indexes moved S&P 500: Fell 0.1% Nasdaq Composite: Dropped 0.3% Dow Jones Industrial Average: Rose 0.1% Despite trade concerns, the Dow showed resilience, while tech-heavy indexes slipped slightly amid cautious sentiment. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Click Here To Read More - micro segmentation software Expertinspector Click Here Key market drivers 1. Trump's tough talk on China renews trade war fears President Trump accused China of 'totally violating its agreement' with the U.S. Trade talks are reportedly 'a bit stalled,' according to Treasury Secretary Scott Bessent. Tariff tensions are escalating beyond goods to include chip export restrictions and visa issues. A U.S. appeals court paused a lower court ruling that blocked Trump's tariffs—giving the White House until Monday to respond. 2. PCE inflation data shows cooling price pressures Core PCE (month-over-month): +0.1% (unchanged from March, in line with forecasts) Core PCE (year-over-year): +2.5% (down from 2.7% in March) Headline PCE (year-over-year): +2.1% (slightly below the expected 2.2%) Investor sentiment takeaway: Easing inflation could reduce pressure on the Federal Reserve to raise interest rates again. Monthly market performance – is May still ending strong? S&P 500: Up +6% for May Dow Jones: Gained +4% Nasdaq Composite: Surged nearly +10%, led by a tech stock rebound Despite daily volatility, May is closing with solid gains across the board. Live Events Stocks to watch today Regeneron Pharmaceuticals (REGN) Shares plunged over 17% Reason: Disappointing late-stage trial results for its smoker's lung disease drug Despite earlier promising results, the final trial failed to meet expectations, triggering a sharp selloff Other notable movers: Gap (GPS): Fell 17% after a weak Q2 forecast Ulta Beauty (ULTA): Rose 7% after strong Q1 results Dell Technologies (DELL): Up 1.7% on strong revenue beat Consumer sentiment – signs of stabilization University of Michigan's final May reading: Held steady, breaking a 4-month decline streak Positive factor: Temporary China tariff pause boosted economic optimism Inflation expectations Long-run (5-10 years): Dropped to 4.2% (from 4.4% in April) Short-run (1 year): Ticked up to 6.6% (from 6.5%) Why are investors worried about Trump's new China tariff comments? On Friday, President Trump escalated rhetoric against China, accusing Beijing of breaking its deal with the US just weeks after the two nations had agreed on a temporary tariff truce. 'They've totally violated their agreement with us,' Trump told reporters, stoking fears of a renewed US-China trade war. Talks between Washington and Beijing have reportedly hit a roadblock. Scott Bessent told Fox News that discussions are 'a bit stalled,' suggesting only a direct call between Trump and Chinese President Xi Jinping could push things forward. The standoff isn't just about tariffs anymore—it now includes chip restrictions and visa issues, adding layers of complexity to already tense negotiations. Adding to the legal confusion, a US appeals court on Thursday paused a trade court decision that had blocked Trump's global tariffs. The White House now has until Monday to challenge the ruling, which could reshape how tariffs are handled going forward. How is the cooling PCE inflation data affecting market sentiment? While trade headlines dominated attention, the latest PCE inflation report also moved markets. The core Personal Consumption Expenditures (PCE) index, the Federal Reserve's preferred inflation gauge, rose just 0.1% month-over-month in April. That's the same rate as in March and exactly what economists had forecast. On a yearly basis, core PCE inflation came in at 2.5%, down from March's 2.7%, and matched analyst expectations. Meanwhile, headline PCE rose 2.1% year-over-year, slightly below the 2.2% projection. These numbers suggest that inflation is easing, though still above the Fed's 2% target. The market took this as a positive sign, as it could reduce pressure on the Fed to hike interest rates further. Still, uncertainty from trade tensions has kept investors cautious. Is the stock market still on track for a strong may finish? Despite the choppy session, US stocks remain on pace to close May with solid gains. Here's where the major indexes stand heading into the final trading day of the month: S&P 500: +6% in May Dow Jones: +4% for the month Nasdaq Composite: Nearly +10%, boosted by a tech sector rebound Even with the ups and downs triggered by trade headlines and inflation reports, investors are looking at a winning week and month. The strong performance from tech giants has helped power the Nasdaq's rally, reflecting renewed optimism in growth stocks. What happened to Regeneron stock and why did it fall so sharply? In individual stock news, Regeneron Pharmaceuticals (REGN) took a hard hit on Friday. Shares dropped over 17% after the biotech firm announced mixed trial results for its new drug targeting smoker's lung disease. While the drug failed to show strong results in a late-stage trial, it did perform better in an earlier-stage study. Still, investors were disappointed by the setback, leading to a sharp selloff in the stock during early trading. Is consumer sentiment improving or staying flat? According to the University of Michigan's consumer sentiment survey, confidence among US consumers stabilized in May. The final reading for the month showed sentiment holding steady compared to April, breaking a four-month decline streak. One factor that helped? A temporary pause on certain China tariffs, which boosted optimism about the economy's direction. Joanne Hsu, director of consumer surveys at the university, explained: 'Expected business conditions improved after mid-month, likely a consequence of the trade policy announcement.' In terms of inflation expectations: Long-run inflation outlook fell to 4.2% from 4.4% in April Short-run (1-year) expectations rose slightly to 6.6% from 6.5% While this data shows some relief, Hsu noted that consumers remain concerned. 'These positive changes were offset by declines in current personal finances stemming from stagnating incomes throughout May,' she said. What's next for the stock market and economy? As May wraps up, investors will likely stay focused on US-China developments, especially with Monday's court deadline looming for the White House on tariffs. At the same time, attention will turn to whether the Fed sees enough progress on inflation to hold off on further rate hikes. With solid month-end gains across major indexes and cooling inflation numbers, markets have reasons to stay optimistic—as long as geopolitical tensions don't boil over again. The stock market today reflected a tug-of-war between easing inflation and renewed global trade worries. While Friday was mixed, the broader month paints a more hopeful picture for US equities. FAQs: Q1: What caused the stock market to dip today? Rising US-China tensions and renewed tariff fears made the market slip despite cooling inflation data. Q2: How did PCE inflation data affect investors? The PCE index showed inflation is easing, giving hope the Fed might avoid more rate hikes.
The Hindu
39 minutes ago
- The Hindu
Infosys BPM introduces AI Agents to ensure better efficiency, accuracy in invoice processing
Infosys BPM, the business process management arm of Infosys, has on Friday announced the launch of AI agents for invoice processing within its flagship Infosys Accounts Payable on Cloud solution. Powered by Infosys Topaz, the innovation would redefine invoice processing by moving from a human-driven, AI-supported model to an autonomous AI-first approach, said the company. According to Infosys BPO, designed to operate autonomously, the solution leverages AI agents equipped with advanced decision-making capabilities to handle complex business scenarios with precision and speed. Autonomous AI-first approach enables end-to-end workflow management, allowing AI agents to handle dynamic processes, adapt to changing business logic, and perform intricate tasks with minimal human oversight, claimed the company. This solution was developed in close collaboration with Americana Restaurants, the largest out-of-home dining and quick service restaurant operator across the Middle East, North Africa, and Kazakhstan, with more than 2,600 restaurants. Building on the successful deployment of Accounts Payable on Cloud solution for Americana, Infosys BPM was now integrating Agentic AI to make their invoice processing largely autonomous, further enhancing its efficiency and accuracy, it further said. Anantha Radhakrishnan, CEO & Managing Director, Infosys BPM, said, 'With the introduction of Agentic AI into Infosys Accounts Payable on Cloud solution, we are redefining what is possible in the finance and accounting functional domain. By integrating Infosys Topaz with a purpose-built multi-agent framework, along with Microsoft's AI stack, we've developed a solution that is autonomous by design, responsive to change, and built to evolve.''
