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Stock market opens in green despite Trump's reciprocal tariffs announcement from April 2

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Indian stock markets opened in the green on Wednesday, despite US President announcing reciprocal tariffs from April 2 on Tuesday (Local Time). Companies across Japan to Mexico braced for higher prices,
The Indian stock market opened with gains on April 2, 2024, despite former U.S. President Donald Trump's announcement of imposing reciprocal tariffs on Indian goods. The Sensex and Nifty both saw increases, with the Sensex rising by 150 points to 74,000 and the Nifty by 50 points to 22,500. This positive market movement occurred even as investors were cautious due to the potential trade war implications. Trump's statement was made in response to India's retaliatory tariffs on U.S. products following the U.S. withdrawal of India's Generalized System of Preferences (GSP) status in 2019. Despite the looming trade tensions, sectors like IT, pharmaceuticals, and FMCG showed resilience, buoyed by strong domestic economic indicators and expectations of a robust Q4 earnings season.

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