Indian shares gain led by financials, IT ahead of looming US tariffs

Tata Consumer Products

02/04/2025 08:20

** India's benchmark Nifty 50 .NSEI and Sensex .BSESN indexes rise 0.5% and 0.6%, led by banks and IT stocks ahead of U.S. reciprocal tariff announcement

** Eleven of the 13 major sectors advance, with financials .NIFTYFIN and IT .NIFTYIT up roughly 0.7%

** "If U.S. tariffs are milder than expected, markets may rebound, led by IT and pharma," said Devarsh Vakil, head of prime research at HDFC Securities

** IT index has lost 16.3% YTD, dragging Nifty 50 lower amid U.S. growth concerns

** On the day, the more domestically focused small-caps .NIFSMCP100 and mid-caps .NIFMDCP100 gain 0.8% and 1.1%

** Among individual stocks, Tata Consumer TACN.NS jumps 7.3% after Goldman Sachs upgrades to "buy"

(Reporting by Bharath Rajeswaran in Bengaluru)

((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))