Indian shares join Asia-wide rebound on trade optimism
Ellison SpringmanIndia's benchmark indexes opened higher on Tuesday, joining an Asia-wide rebound from a global selloff on hopes that the United States might be willing to negotiate some of its aggressive tariffs.
The Nifty 50 ,, rose 1.85% to 22,566 while the BSE Sensex ,, gained 1.64% to 74,304.02, respectively, as of 09:15 a.m. IST.
Asian stocks (MIAPJ0000PUS) bounced off 1-1/2-year lows and U.S. stock futures pointed higher on the day.
All the 13 major Indian sectors advanced at the open and even the broader, more domestically focussed small-caps ,, and mid-caps ,, rose 2.6% and 2.2%, respectively.
The Nifty and Sensex fell 3.2% and 3%, respectively, on Monday, in their steepest single-day drop in 10 months on fears that the U.S. tariffs would lead to a global recession.
However, the Indian indexes fared relatively better than the rest of Asia, which tumbled 8.4%.
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