Why a tentative stock market makes sense
For the Indian stock market, it's been a jagged past fortnight or so, with the benchmark index showing moderate volatility post-Operation Sindoor. On Tuesday, the BSE Sensex fell 0.76% to 81,551.63 after rising in the previous two sessions. Indeed, the index has swung between gains and losses.
Also Read: Mint Quick Edit | India's military strike didn't faze its stock market
The swings are not too sharp, but it's hard to ignore the cloud of uncertainty that hangs over its direction. While rises are triggering profit booking and dips are being bought into, eyes seem set on US tariff policy for broad cues on the index's future course.
Also Read: Devina Mehra: Trump stocks? They're mythical at best in this new era of uncertainty
Although America's 50% tariff threat aimed at the EU being held off till July was celebrated globally, a day of reckoning for world trade still lies ahead. Washington's disapproval of Apple's plan to import more India-made iPhones has dashed hopes that it wasn't too serious about a push for manufacturing self-sufficiency. Signals from the US have left investors puzzled about what kind of trade reset to expect and what it will mean for businesses.
Also Read: The certainty of uncertainty calls for enhanced economic vigilance
True, India is far less exposed to global upheavals, but rapid economic growth still hinges on access to markets abroad. It's easy to empathize with investors who are unsure of outcomes.
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Time of India
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