Sensex, Nifty surge nearly 2% as U.S. suspends additional 26% tariffs on India till July 9

From the Sensex firms, Tata Steel, Power Grid, NTPC, Kotak Mahindra Bank, Reliance Industries and Adani Ports were among the biggest gainers. File
| Photo Credit: Reuters

Benchmark Sensex surged by 1,310 points while Nifty closed above 22,900 level on Friday (April 11, 2025) after the U.S. announced suspension of additional tariffs on India for 90 days until July 9 this year.

Defying a bearish trend in world markets, the 30-share BSE benchmark Sensex jumped 1,310.11 points or 1.77% to settle at 75,157.26. During the day, it soared 1,620.18 points or 2.19% to 75,467.33.

The NSE Nifty surged 429.40 points or 1.92% to 22,828.55. In intra-day trade, the benchmark rallied 524.75 points or 2.34% to 22,923.90.

The U.S. has announced suspension of additional tariffs on India for 90 days until July 9 this year, according to the White House executive orders.

On April 2, U.S. President Donald Trump slapped universal duties on about 60 countries exporting goods to America and additional steep levies on countries like India, potentially impacting sales of products from shrimp to steel in the world’s biggest economy.

From the Sensex firms, Tata Steel, Power Grid, NTPC, Kotak Mahindra Bank, Reliance Industries and Adani Ports were among the biggest gainers.

Asian Paints and Tata Consultancy Services were the only laggards.

“An unexpected pause on reciprocal tariffs by the U.S. provided relief in the midst of the uncertainty. Though the IT major’s result missed the street estimates, it opines optimism in the latter half of FY26 owing to growth in the order book,” Vinod Nair, Head of Research, Geojit Investments Limited, said.

World markets largely slumped amid growing concerns due to a tit-for-tat tariff war between China and the U.S.

In Asian markets, Tokyo’s Nikkei 225 index and South Korea’s Kospi settled lower while Shanghai SSE Composite index and Hong Kong’s Hang Seng ended higher. Tokyo’s Nikkei 225 index dropped nearly 3%.

European markets were trading lower.

U.S. markets ended significantly lower on Thursday (April 10, 2025) a day after a sharp rally. The Nasdaq composite tanked 4.31%, S&P 500 slumped 3.46% and Dow Jones Industrial Average dropped 2.50%.

China on Friday (April 11, 2025) raised its additional tariffs on imports from the U.S. to 125% in retaliation to the Trump administration’s 145% levies on Chinese exports.

Also read: Trump global tariffs, April 11, 2025 highlights

Foreign Institutional Investors (FIIs) offloaded equities worth ₹4,358.02 crore on Wednesday (April 9, 2025).

Indian stock markets were closed on Thursday (April 10, 2025) for Shri Mahavir Jayanti.

Global oil benchmark Brent crude climbed 0.32% to $63.53 a barrel.

On Wednesday (April 9, 2025), the BSE benchmark dropped 379.93 points or 0.51% to settle at 73,847.15. The Nifty declined 136.70 points or 0.61% to 22,399.15.