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Nifty ends higher amid U.S. federal court ruling against Trump's reciprocal tariffs

29 May 2025 Evaluate

Indian equity benchmark -- Nifty -- ended higher on Thursday. Index made a positive opening followed by firm cues from other Asian markets after U.S. federal court blocked US President Donald Trump's attempt to impose sweeping reciprocal tariffs against its global trading partners under emergency powers, stated that he exceeded his authority.  Soon, index erased all initial gains and wavered around its neutral line in the most part of the day. Sentiments remained weak after India’s industrial production growth, measured in terms of the Index of Industrial Production (IIP), slowed to an 8-month low of 2.7 per cent in April 2025 due to poor performance of manufacturing, mining and power sectors. However, in last leg of the trade, index gained traction and closed above 24,800 mark.

Most of the sectorial indices ended in green except PSU Banks and FMCG stocks. The top gainers from the F&O segment were Cummins India, Deepak Nitrite and RBL Bank. On the other hand, the top losers were Apollo Tyres, Cholamandalam Investment and Finance Company and Escorts Kubota. In the index option segment, maximum OI continues to be seen in the 25900 - 26100 calls and 23900 - 24100 puts indicating this is the trading range expectation.

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