Sensex, Nifty Show Modest Recovery Amid Global Trade Worries
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Summary: Indian stock markets opened slightly higher on June 4 despite global concerns over rising US tariffs, with Nifty crossing 24,550 and Sensex gaining over 150 points.
Indian equity markets are on the path of recovery on June 4, following a recent drop prompted by global trade concerns. In early trade, the Nifty50 surpassed 24,550, while the BSE Sensex gained more than 150 points before ending at approximately 80,836.
This mild recovery comes amid mixed global cues, especially after the US imposed steep new tariffs on imported steel and aluminium, doubling them from 25% to 50%. These restrictions, imposed as part of former President Donald Trump's trade strategy, have generated concerns of a new round of global trade wars.
Despite these risks, Indian investors appear cautiously optimistic. Analysts believe that markets will remain in a consolidation phase between 24,000 and 25,000, with the chance of rising if global mood improves.
Foreign portfolio investors sold shares worth ₹2,853 crore on June 3. However, the market remained solid due to robust purchases made by regional institutional investors.
Looking ahead, experts strongly believe India's strong economic outlook and anticipation of rate reduction from the Reserve Bank of India (RBI) will help protect domestic markets from external turmoil. However, with global trade tensions rising, some volatility is expected to persist in the immediate term.
