Indian equity markets opened higher on Tuesday, February 4, with the Nifty Bank index surging 1.32%, followed by the Sensex gaining 0.70% and the Nifty 50 climbing 0.65%. The upbeat market sentiment came as US President Donald Trump delayed imposing tariffs on Canada and Mexico, boosting hopes of eased trade tensions.
Trump’s pause on tariffs triggered a sharp recovery in the respective currencies of Canada and Mexico. Wall Street witnessed a rebound, with the Dow Jones recovering from its session lows, although major US indices still closed in the red.
Trump also hinted at potential trade negotiations with China, scheduled within the next 24 hours, raising hopes of a delay or reduction in the 10% tariffs set to take effect. The US President emphasized that if talks do not progress, substantial tariffs on China would be enforced, as reported by Bloomberg.
The positive global cues drove gains across Indian indices, with banks and key sectors witnessing robust buying in early trading.
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