MUMBAI: India’s equity benchmarks rose on Monday, led by gains in metals and IT stocks, as hopes of a US rate cut outweighed concerns over potential US tariffs on Indian goods.
The Nifty 50 rose 0.64% to 24,722.75 points and the BSE Sensex gained 0.52% to 81,018.72 on Monday, recovering from a two-day drop of about 1.1% after US President Donald Trump announced 25% tariffs on India.
“We are seeing some recovery today after last week’s reaction to tariff news. But the market should be range bound with a negative bias going ahead until some equilibrium is reached on US tariffs,” said UR Bhat, co-founder of tech-driven investment platform Alphaniti Fintech.
Fourteen of the 16 major sectors advanced on the day. The broader small-caps and mid-caps added 1.3% and 1.4%, respectively.
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