India's BSE Sensex closed about 0.6% higher at 83,295 on Monday, posting a second consecutive session of gains, following the US Supreme Court’s landmark decision to strike down President Donald Trump’s broad-based tariffs. At the same time, President Trump imposed a new temporary 15% tariff on imports from all countries, while stressing that the existing trade deal with India remains intact.
India currently faces a 25% reciprocal tariff, which is scheduled to be reduced to 18% under an interim agreement reached earlier this month, with scope for further revisions.
Adani Ports was the top gainer on the Sensex, advancing 2.8%, followed by Kotak Mahindra Bank (2.2%), UltraTech Cement (1.6%), Hindustan Unilever (1.4%), HDFC Bank (1.4%) and Power Grid (1.3%).
In contrast, IT stocks declined after global brokerage Jefferies downgraded six IT companies, including Infosys (-1.8%), HCL Tech (-0.7%) and TCS (-0.5%), citing concerns related to artificial intelligence.
