Sensex, Nifty End Modestly Higher As Trump Extends Trade Deal Deadline
(RTTNews) - Indian shares eked out modest gains on Tuesday as U.S. President Donald Trump delayed imposing higher tariffs on U.S imports and indicated he would make further climbdowns on tariffs.
After threatening to impose new import taxes on more than a dozen countries, Trump pushed back the effective date of those tariffs, ranging from 25 percent to 40 percent, until Aug. 1.
The President also said his August 1 deadline for implementing the levies was not firm, raising mild hopes for deals over punishing tariffs.
Local media reports suggested that India is still operating under the July 8 deadline and that a mini deal with the U.S. could be announced "in a day or two".
However, it was said that India will not push ahead if the deal specifics do not suit the country.
The benchmark 30-share BSE Sensex edged up by 270.01 points, or 0.32 percent, to 83,712.51 while the broader NSE Nifty index closed up 61.20 points, or 0.24 percent, at 25,522.50.
The BSE mid-cap ended on a flat note while the small-cap index slid 0.2 percent.
The market breadth was weak on the BSE, with 2,064 shares declining while 1,969 shares advanced and 134 shares closed unchanged.
Among the top gainers, private sector lender Kotak Mahindra Bank jumped 3.4 percent after a strong Q1 business update.
Eternal, the parent company of Zomato, climbed 1.9 percent after announcing leadership changes.
Adani Ports, BEL, NTPC and Asian Paints gained 1-2 percent.
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