Nifty extends gains to 24,800 as US-China tariff rollback boosts investor sentiment
The Nifty 50 index surged 3.32% or 797.80 points to reach 24,805.80 in Monday's afternoon session, lifted by strong global cues following the announcement of a significant tariff rollback agreement between the United States and China. The Sensex also soared 3.13% to 81,942.84, while broader indices like Nifty Next 50 and Nifty 500 rose 3.58% and 3.33% respectively.
The market rally came after both economic giants released a Joint Statement on Economic and Trade Cooperation from Geneva, pledging to de-escalate their long-standing trade war.
As per the joint statement: The United States will cut tariffs on Chinese goods from 145% to 30% for 90 days, retaining a base duty of 10%.
China will lower tariffs on US imports to 10% from as high as 125%, also for 90 days.
Both nations have committed to removing non-tariff barriers and agreed to continue bilateral discussions, to be led by Vice Premier He Lifeng (China) and Treasury Secretary Scott Bessent with Trade Representative Jamieson Greer (U.S.).
The breakthrough comes amid growing global pressure to restore economic stability. Equity markets globally reacted positively as the rollback of these punitive tariffs is expected to boost trade flows and ease inflationary pressures.
Indian metal, auto, and export-oriented stocks led the rally, with the broader optimism spilling across sectors. The easing of geopolitical tensions between India and Pakistan, coupled with the favorable trade developments, added further momentum to the rally.
Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
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