Indian stocks rallied as trading resumed after a long weekend, with the benchmark equity index erasing all the losses triggered by US President Donald Trump’s reciprocal tariffs earlier this month.
The NSE Nifty 50 Index climbed as much as 2.4% in Mumbai trading on Tuesday, hovering around their closing level on April 2. The market was shut on Monday for a local holiday.
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Investors are touting Indian markets as a relative safe haven amid the volatility sparked by US President Donald Trump’s reciprocal tariffs. The nation’s big domestic economy is seen able to withstand a potential global recession better than many peers, who face higher tariffs.
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“We remain overweight India in our portfolios,” said Gary Dugan, chief executive officer of The Global CIO Office. Supported by good domestic growth and aided by a likely diversification of supply chains away from China, Indian equities are seen as a safer bet over the medium term, he said.
{{/usCountry}}“We remain overweight India in our portfolios,” said Gary Dugan, chief executive officer of The Global CIO Office. Supported by good domestic growth and aided by a likely diversification of supply chains away from China, Indian equities are seen as a safer bet over the medium term, he said.
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An intensifying Sino-American trade war is shining a spotlight on India as an alternative manufacturing hub to China. In stark contrast to Beijing’s retaliatory moves against US levies, New Delhi has struck a conciliatory tone and sought to reach a provisional trade deal with the Trump administration.