Sensex rises 600 pts on renewed US-China trade optimism

Indian benchmark indices Sensex and Nifty traded higher for the seventh consecutive session on Wednesday, led by gains in IT and banking stocks. Sentiment improved on hopes of easing trade tensions after U.S. President Donald Trump said tariffs on Chinese imports would fall significantly following a deal, but not to zero.

At around 9:19 am, the BSE Sensex was up 600 points at 80,254, while the Nifty50 rose 171 points to 24,359.

Trump also backed away from his threats of firing U.S. Federal Reserve Chair Jerome Powell, fuelling a bounce back in the dollar from multi-year lows hit this week.

The ongoing trade tensions between the U.S. and China had raised concerns among global investors about their impact on economic growth and inflation.

Meanwhile, foreign portfolio investors (FPIs) have turned net buyers in the past five sessions, purchasing over $2 billion worth of Indian equities and trimming their year-to-date outflows to around $15 billion.


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