The Indian stock market closed up on Thursday (May 29) amidst the rise in Asian markets. The major benchmark index Nifty-50 and Sensex rapidly closed in green mark in the last half-hour of trading. Earlier, the market was mostly trading in flat or red mark. The BSE’s 30 -share Sensex climbed over 200 points to 81,591.03. As soon as it opened, it saw a boom. However, later it slipped into the red mark. Finally it closed at 81,633.02 with a gain of 320.70 points, or 0.39%. Similarly, the Nifty-50 of the National Stock Exchange (NSE) also opened firmly at 24,825.10. It fell to 24,677.30 points during trading. Finally it closed at 24,833.60 with a gain of 81.15 points, or 0.33%.
The market gained momentum due to stopping Trump’s import bill
A US federal court on Wednesday stopped Trump from imposing large tariffs on imports, citing the ’emergency powers’ of the law. The decision has been given by a panel of three judges of the US International Trade Court in New York. After this decision of the court, Trump’s plan to impose this tariff has stopped.
Trump said that these tariffs would help to bring back American factories and provide the necessary revenue to reduce the federal budget deficit. But several cases have been filed alleging that Trump has encroached his authority.
How was the market on Wednesday?
Despite a positive attitude in global markets, the Indian stock markets closed down on Wednesday (May 28) in the second consecutive trading session. The 30 -share BSE Sensex closed at 81,312.32 with a drop of 239.31 points or 0.29%. Similarly, the Nifty-50 of the National Stock Exchange (NSE) also closed down 73.75 points or 0.30% to close at 24,752.45.
What is the condition of global markets?
On Thursday, Asian markets saw a boom. The reason for this is the decision of an American court. A US federal court ruled on Wednesday that President Donald Trump has encroached his authority by imposing mutual fees.
Japan’s Nikkei rose 1.16 percent. While the broad subject index rose by 1.11 percent. Kospi rose by 1.07 percent and ASX 200 by 0.27 percent. The US futures rose after the US court verdict and the encouraging results of Nvidia. S&P 500 futures rose by 1.44 percent. Nasdaq 100 futures rose by 1.76 percent and Dow Jones futures 1.15 percent. S&P 500 declined by 0.56 percent. Nasdaq Composite declined by 0.51 percent and Dow Jones by 0.58 percent.
