Indian stock markets opened on a strong note Thursday, tracking positive global cues after a major US court ruling and upbeat earnings from US tech giant Nvidia.
The Nifty 50 index opened at 24,825.10, gaining 72.65 points or 0.29 per cent, while the BSE Sensex rose by 278.71 points to start at 81,591.03, marking an increase of 0.34 per cent. Market experts attributed the buoyant start to a significant decision by the US Court of International Trade in New York, which late on Wednesday invalidated the Trump-era tariffs in a twin judgement. The court ruled that former President Donald Trump had wrongfully invoked emergency powers to impose the tariffs, asserting that such authority lies with the US Congress, not the Executive branch.
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29 May 2025
The Trump Administration has announced plans to appeal the verdict in the Federal Appeals Court and may escalate the case to the US Supreme Court if needed. Ajay Bagga Banking and Market Expert, told ANI, “Indian markets have entrenched short positions which will not allow the expiry today to take the markets sharply higher, but we can expect a mild gap up open with intra-day expiry-led volatility.
The Index options setup for the May series expiry today is pointing to a range-bound market with the upside capped by substantial shorts at 25000 levels for the Nifty. Expect volatility but the global sentiment has turned positive post this Court ruling in the US against the Trump Tariffs”.
The judgement has sparked a wave of optimism across global markets, including a rally in US futures and a strong opening across Asian bourses. Analysts said this ruling could signal a shift towards a more predictable trade environment, benefitting export-oriented sectors worldwide.
