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BUZZ-India's benchmarks jump on bargain hunting, tariff relief hopes

Reuters
Mar 05, 2025
BUZZ-India's benchmarks jump on bargain hunting, tariff relief hopes

** India's benchmark indexes jump 1.2%, set for biggest daily percentage gains in a month

** Attractive buying opportunity after recent fall and hopes of U.S. President Donald Trump taking back some tariffs imposed on Canada and Mexico aiding equities on the day, analysts say

** All 13 major sectors gain, with export-focused IT .NIFTYIT up 2.7%; index is the biggest boost for benchmark Nifty 50 .NSEI

** Coforge COFO.NS leads gains among IT, soars 9% on $1.56 billion deal with Sabre Corp SABR.O

** Broader midcaps .NIFMDCP100 and smallcaps .NIFSMCP100 up 2.1% and 2.4%, respectively

** Analysts expect caution to prevail in the near term amid tariff uncertainty

** U.S. president reiterates intention to impose reciprocal tariffs on several countries, including India, on April 2

(Reporting by Vivek Kumar M and Bharath Rajeswaran)

((VivekKumar.M@thomsonreuters.com;))

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