Indian shares closed higher on Thursday, rebounding from earlier losses driven by liquidity concerns related to block deals. A U.S. federal court ruling against Trump's tariff strategy spurred buying interest, with the S&P/BSE Sensex closing up 0.39 percent at 81,633.02 and the NSE Nifty gaining 0.33 percent to close at 24,833.60. The Global Trade Research Initiative (GTRI) has advised India to re-evaluate its trade strategy with Washington in light of the ruling.
Indian equity markets closed higher, with the S&P/BSE Sensex rising 0.39 percent to 81,633.02 and the NSE Nifty index advancing 0.33 percent to 24,833.60, recovering from earlier losses. Initial selling pressure was attributed to liquidity concerns arising from a series of block deals initiated by promoters or private equity funds. However, buying interest emerged in the afternoon session following a U.S. federal court ruling against U.S. President Donald Trump's 'Liberation Day' tariffs. This legal development prompted the Global Trade Research Initiative (GTRI) to recommend that New Delhi reassess its trade strategy with Washington, advising against making concessions influenced by what it termed 'unlawful' pressure tactics. The market rebound was supported by broad participation, as evidenced by the BSE mid-cap and small-cap indexes gaining 0.5 percent and 0.4 percent, respectively, and a positive market breadth on the BSE with 2,043 shares rising versus 1,934 declining. Key large-cap gainers contributing to the upward movement included Infosys, Kotak Mahindra Bank, Tata Motors, Axis Bank, Tech Mahindra, Tata Steel, Adani Ports, Eternal, Sun Pharma, and IndusInd Bank, all rallying between 1-2 percent.
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