Sensex recoups all losses since tariff announcement
The BSE benchmark Sensex has recovered all the losses it suffered since the US reciprocal tariffs were announced earlier this month thanks to a remarkable bounce back in the index.
Rallying for the second straight session on Tuesday, the BSE benchmark gauge jumped 1,577.63 points or 2.10 per cent to settle at 76,734.89. In two days, the benchmark Sensex has surged 2,887.74 points or 3.91 per cent.
The reciprocal tariffs were announced on April 2 and since then the Sensex has fallen on four trading days. Since April 2 till April 7, the bellwether gauge tumbled 3,479.54 points or 4.54 per cent.
The benchmark index bounced back on April 8th trading session but again slipped on April 9.
From April 2 till April 15, the BSE barometer climbed 117.45 points or 0.15 per cent.
During this period, stock markets remained closed on two occasions, on April 10 for Shri Mahavir Jayanti and April 14 due to Dr Baba Saheb Ambedkar Jayanti.
The NSE Nifty is hovering near the closing level of April 2 at 23,332.35. The benchmark ended at 23,328.55 level on Tuesday.
Equity benchmark indices jumped nearly 2 per cent on Friday as investors rejoiced the 90-day suspension of additional import duties by the US.
“The latest tariff adjustments suggest the White House is recognising the pressure on American consumers and the broader economy,” Satish Chandra Aluri, Analyst at Lemonn Markets Desk, said.
