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As the Donald Trump administration considering the potential price hike impact has delayed auto tariffs on Canada and Mexico by a month, there has been seen some recovery across global markets. Mirroring a similar rebound, Indian equities in Thursday’s trade after gains in the previous session continued to trend higher.
As at 10:20 am, the BSE 30-share Sensex erased most of the early losses and moved higher by 0.1 per cent or 72 points to 73,802.3, while the Nifty50 index drifted into the red with a cut of 0.04 per cent or 8.95 points at 22,328.35.
Here’s market guru’s Anil Singhvi’s view on the current market dynamics
Zee Business Managing Editor Anil Singhvi held that for the first time US President Donald Trump has showed a softened stance on tariffs, resulting in a relief in the immediate trade war fears.
Also, the move has brought relief to the roiling world financial markets including the US markets which in the overnight session gained over 1 per cent on each of the three major indices.
Also Read: Bank and NBFC stocks in focus today as RBI looks to strengthen system liquidity
Further, the market wizard noted that currently the US markets are experiencing high volatility and he added that the markets there are sending good signals for Indian markets which he listed as below:
1. Tariff will be imposed on India from 2nd April, and the market guru expects that till then maybe the matter will be resolved through talks.
2. Dollar index has softened and is trading near 104 levels.
3. Crude oil prices have also plummeted to 3-year low at $69 per barrel.
4. US bond-yield has also reduced to 4.25 per cent.
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