The US Supreme Court ruled Trump’s tariffs illegal. In response, Trump imposed fresh duties – starting at 10% and then lifting them to 15% – on all countries. This is lower than the rates negotiated between New Delhi and Washington agreed upon earlier this month, but analysts fear the lower tariffs may not last for long.
“The 15% tariffs are limited to 150 days, and Trump will attempt to revert to earlier rates,” said Pankaj Pandey, head of Retail Research at ICICI Securities. “For now, China appears to be the biggest beneficiary, as it had faced the steepest rates earlier, which slightly dims prospects for other economies, including India.”
FPIs bought ₹3,483.7 crore worth of shares on Monday, while domestic institutions sold ₹1,292.24 crore. FPIs have purchased ₹17,426.3 crore so far in February. Across Asia, Hong Kong jumped 2.5%, while South Korea and Taiwan gained 0.7% and 0.5%. China and Japan were closed for holidays. In commodities, gold inched 0.9% higher, and silver rose 2.8% to $86.9. At home, the Nifty PSU Bank and Nifty Auto indices advanced 1.4% and 0.8%, while the Nifty IT index slipped 1.4%.
Technical analysts expect the downside to be limited to 25,500, but say broader participation is essential to sustain upside.
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