Market Trades Green in Early Trade; Sensex up 500 pts, Nifty Above 24,850

Indian benchmark indices broke the two-day losing streak as Nifty and Sensex surged in the early trade today. The gains can be attributed to the rally in Asian markets and positive cues on the US tariffs front.

Senex jumped by 504.57 points to 81,816.89 in the early trade, while Nifty surged by 137.25 points to 24,889.70.

On the Sensex front, Infosys, Tata Steel, Tech Mahindra, HCL Tech, Tata Consultancy Services, Sun Pharma, Tata Motors and HDFC Bank were the top gainers, while UltraTech Cement, Bajaj Finance, Bajaj Finserv and Nestle were in red.

A US Federal Court restricted Trump from implementing sweeping tariffs on imports under an emergency-powers law.

“The US federal court striking down the reciprocal tariffs is a clear message that the president cannot ride roughshod over markets and economy with his questionable decisions.

“This court ruling is the second big blow to President Trump after the blow delivered by the bond market which forced the Trump administration to pause the tariffs for 90 days. From the market perspective, this is a positive development,” V K Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said.

Among the Asian markets, South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng were trading in green.

Foreign Institutional Investors (FIIs) pumped ₹4,662.92 crore in the domestic equities, exchange data said.

During April, India's industrial production growth fell to 2.7%. The decline was caused due to poor performance of manufacturing, mining and power sectors.