Indian stock benchmarks to open higher on upbeat GDP data, US court’s tariff ruling
- Gift Nifty futures were trading at 24,604.5 points
India’s equity benchmarks are expected to open higher on Monday after a U.S. court ruled that most of U.S. President Donald Trump’s tariffs are illegal, but allowed them to remain in effect through October 14.
Investors are also expected to take heart from the better-than-expected gross domestic product (GDP) growth of 7.8% in the April-June quarter, even as a sharp rise in U.S. tariffs threatens to weigh on business activity in the coming quarters.
Gift Nifty futures were trading at 24,604.5 points as of 08:01 a.m. IST, indicating that the Nifty 50 will open above Friday’s close of 24,426.85.
A divided U.S. appeals court has kept the tariffs in place for now, giving the Trump administration time to file an appeal before the U.S. Supreme Court.
Trump imposed 50% tariffs on Indian goods, among the highest on any of its trading partners. Nifty 50 and Sensex fell for a second straight month in August, weighed by concerns that punitive U.S. tariffs on Indian goods will hurt economic growth and corporate earnings.
Investors are also watching Indian Prime Minister Narendra Modi’s visit to China - a first in seven years - to attend the Shanghai Cooperation Organisation alongside Russian President Vladimir Putin and leaders of other Asian nations.
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