Mumbai: Indian benchmark indices ended over 1.5% higher on Thursday, recovering from a weak opening, with the Nifty closing above 25,000 for the first time in seven months after US president Donald Trump claimed that India has offered to drop all tariffs on goods imported from the US, lifting investor sentiment.
NSE’s Nifty rose 395.2 points or 1.6% to close at 25,062.1. The index ended above the 25,000 level for the first time since October 15. BSE’s Sensex rose 1200.18 points or 1.5% to end at 82,530.74. Both indices had fallen as much as 0.7% earlier in the day. “After Donald Trump’s comments today (Thursday), investors are hoping that a US-India trade agreement will be signed soon, which will remove an overhang on the market,” said Aamar Deo Singh, senior VP, research, Angel One. “The continued foreign institutional flows are also good news for India.” Trump said on Thursday that India had offered a no-tariff trade deal for US goods, a claim that is yet to be confirmed by New Delhi.