Equity benchmark indices Sensex and Nifty closed higher on Monday, tracking gains in PSU bank, auto and financial stocks, as investors’ sentiments improved after the US Supreme Court struck down the Trump administration’s sweeping tariffs.
Extending its winning streak for a second consecutive session, the 30-share BSE Sensex climbed 479.95 points, or 0.58 per cent, to settle at 83294.66. During the session, the benchmark jumped 671.44 points, or 0.81 per cent, to hit an intraday high of 83486.15. A total of 2,435 stocks declined, while 1,894 advanced and 168 remained unchanged on the BSE.
The 50-share NSE Nifty advanced 141.75 points, or 0.55 per cent, to close at 25713.
“The US Supreme Court’s ruling against Trump’s reciprocal tariff policy was welcomed by domestic markets,” Vinod Nair, head of research at Geojit Investments Ltd, said.
Precious metals
Precious metal prices climbed 3 per cent in the national capital on Monday, with silver surging to ₹2.7 lakh per kg and gold advancing to ₹1.6 lakh per 10 grams, due to strong safe-haven demand amid growing global trade uncertainties after the US Supreme Court ruling against Trump’s tariffs.
In Calcutta, silver jumped ₹2,450 to ₹2,65,300 per kg, while gold of 99.9 per cent purity increased by ₹650 to ₹1,58,050 per 10 grams.
Prop-trading mandate
The Reserve Bank of India (RBI) is not planning to revisit the recently announced rules for bank financing of proprietary traders and brokers, its governor said on Monday.
Earlier this month, the RBI raised the collateral requirements for bank guarantees to brokers and barred lending for proprietary trading by them. The changes are due to take effect from April 1. Shares of brokerage firms fell last week on concerns that the rules would impact brokers’ profit margins and reduce trading volumes.
The rules were finalised after consultation, RBI governor Sanjay Malhotra said at a press conference following the bank’s board meeting. “There is no change that we are contemplating,” he said.