Donald Trump's 90-day tariff pause sends GIFT Nifty soaring, signals strong start for Indian markets on April 11

In today's session, benchmark indices Nifty and Sensex continued to trade with steep losses on April 9, dragged down by a sharp fall in IT, metal, pharma and PSU bank stocks.

Indian markets are set for a strong opening on Friday, April 11, with GIFT Nifty trends pointing to a solid gain of 600 points or 2.5 percent, after US President Donald Trump announced a 90-day pause on new tariffs for several countries—triggering a massive rebound in global equities.

The move, which Trump framed as a response to outreach from over 75 nations seeking talks, was enough to flip investor sentiment overnight. The S&P 500 soared 8 percent, the Dow Jones jumped 2,300 points or 7 percent, and the Nasdaq also rose a massive 10 percent.

While the tariff relief was limited to select countries, Trump turned the heat up on China, hiking tariffs on its imports to 125 percent with immediate effect. Despite the US-China tension, the broader relief rally appears to have taken hold for the time being.

Furthermore, RBI's decision to cut interest rates for a second time in a row will also play its part on April 11 when markets resume after the Mahavir Jayanti holiday on April 10. "The RBI has signalled a decisive pivot towards growth. With inflation expectations anchored—FY26 CPI forecast now revised lower to 4 percent—the central bank has found room to support demand without risking macro stability," said Anirudh Garg, Partner and Fund Manager at Invasset PMS.

VK Vijayakumar of Geojit Financial Services said that India is likely to be among the least impacted large economies in this “Trump shakeout.” The sharp drop in crude oil prices is also a positive for India.

In today's session, benchmark indices Nifty and Sensex continued to trade with steep losses on April 9, dragged down by a sharp fall in IT, metal, pharma and PSU bank stocks. The broader market reflected the weak mood, with midcap and smallcap indices falling 0.5 percent and 0.9 percent, respectively. Analysts remain wary of the space, as valuations still haven’t eased.

Among the top gainers on the Nifty were Nestle, HUL, Tata Consumer Products, Titan Company and Power Grid Corp. The biggest losers included Wipro, SBI, L&T, Trent and Tech Mahindra.