The Indian stock market surged during intraday trading on Tuesday, February 4, driven by broad-based buying. The benchmark Sensex jumped over 1,000 points, while the Nifty 50 crossed 23,700.
As of 1:52 PM, the Sensex was up 1195.84 points or 1.55% at 78,382.58, while the Nifty gained 342 points or 1.46% to reach 23,703.05.
Sectoral indices also showed an upward trend, with the Nifty Bank trading at 50,024.05, up by 813.50 points. The Nifty Midcap 100 rose 596.60 points or 1.13% to reach 53,585.40.
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Similarly, the Nifty Midcap 50 gained 182.25 points or 1.23%, reaching 15,010.75, while the Nifty Smallcap 50 rose by 63.85 points, trading at 8,043.85.
Here are three key reasons driving today’s market rally: 1. US trade policy eases market concerns
Global markets received a boost after US President Donald Trump announced a 30 day postponement of proposed tariffs on imports from Canada and Mexico. The decision was made after high level discussions with Canadian Prime Minister Justin Trudeau and Mexican President Claudia Sheinbaum, has eased investor concerns and improved market sentiment. At the initial phase, the tariffs included a 25% duty on all Mexican imports and most Canadian goods, with a 10% exemption on energy products.
Taking to the social media platform X, formerly Twitter, Canadian Prime Minister Justin Trudeau said, “I just had a good call with President Trump. Canada is implementing our $1.3 billion border plan — reinforcing the border with new choppers, technology and personnel, enhanced coordination with our American partners, and increased resources to stop the flow of fentanyl. Nearly 10,000 frontline personnel are and will be working on protecting the border.”
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“In addition, Canada is making new commitments to appoint a Fentanyl Czar, we will list cartels as terrorists, ensure 24/7 eyes on the border, launch a Canada- U.S. Joint Strike Force to combat organized crime,
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