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Sensex, Nifty Rally As Trump Delays EU Tariffs
(RTTNews) - Indian shares opened on a buoyant note Monday after U.S. President Donald Trump extended a deadline for EU trade deal until 9 July, following a call with European Commission president.
Earlier, Trump had threatened to impose 50 percent tariffs on imports from the European Union beginning June 1st, claiming talks with the bloc are "going nowhere."
The benchmark S&P BSE Sensex was up 630 points, or 0.8 percent, at 82,351 in early trade while the broader NSE Nifty index edged up by 198 points, or 0.8 percent, to 25,047.
Among the top gainers, Titan Company, Tata Motors and Mahindra & Mahindra climbed 2-3 percent.
NTPC rose 1.4 percent and JSW Steel added 0.8 percent after declaring their fourth-quarter results.
Ashok Leyland was little changed despite reporting 38 percent year-on-year growth in its quarterly profit and announcing a 1:1 bonus issue.
ONGC gained 1 percent after announcing promising offshore oil and gas discoveries in the Mumbai Offshore basin.
Bajaj Auto advanced 1.3 percent. The company said it would take control of Austrian motorcycle brand KTM AG through an 800 million deal.
Lloyds Engineering Works rose about 1 percent on receiving an order worth Rs. 20.67 crore from Cochin Shipyard.
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