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Mumbai, February 23:
Domestic equity markets opened on a positive note on Monday after relief in global tariff concerns boosted investor sentiment. Benchmark indices BSE Sensex and Nifty 50 registered gains at the opening bell despite continued global uncertainty.
Markets Open in Green
The Nifty 50 opened at 25,678.40, gaining 107.15 points or 0.42 per cent. The BSE Sensex started trading at 82,906.83, rising 92.12 points or 0.11 per cent.
Market experts attributed the positive opening to investor relief following a US decision that struck down tariff measures earlier imposed under former US President Donald Trump’s trade policy.
Experts Warn of Continued Volatility
Banking and market expert Ajay Bagga said Indian stock futures had surged after the tariff decision but later trimmed gains due to fresh global tariff announcements and geopolitical uncertainty.
He noted that markets remain in an overbought zone ahead of monthly expiry and may witness volatility during the week as investors closely track global developments, particularly negotiations involving Iran.
Gold and Silver Prices Jump
In the commodities market, investors shifted toward safe-haven assets amid uncertainty. Gold prices surged nearly 2 per cent to Rs 1,59,908 per 10 grams for 24-karat gold. Silver prices jumped 6 per cent to Rs 2,68,120 per kilogram.
The sharp rise reflected increased demand for precious metals during global market instability.
Sectoral Indices Show Broad Gains
Most sectoral indices on the National Stock Exchange opened in positive territory, except the IT sector.
Nifty Metal gained around 1 per cent, while Nifty Auto rose 0.46 per cent. Nifty Pharma advanced 0.47 per cent, and Nifty PSU Bank climbed 0.61 per cent. Nifty Realty and Consumer Durables indices also recorded gains of 0.46 per cent and 0.58 per cent respectively.
Asian Markets Trade Higher
Major Asian markets also traded in green. Singapore’s Straits Times index rose 0.28 per cent, Hong Kong’s Hang Seng index surged 2.21 per cent, Taiwan’s Weighted Index gained 1.41 per cent, and South Korea’s KOSPI index increased 0.31 per cent. Japanese markets remained closed due to a public holiday.
Analysts said global tariff developments and geopolitical tensions continue to influence investor sentiment, suggesting that market volatility may persist in the near term.
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