Indian textile stocks rallied on February 23 after the US Supreme Court struck down sweeping import levies imposed by Donald Trump, easing concerns around trade disruptions and lifting sentiment across export-oriented shares. Kitex Garments Ltd stock jumped 5.74 percent to Rs 196.84 on NSE at 10:54 am. Trident Ltd rose 4.5 percent to Rs 26.76, while Welspun Living gained 2.68 percent to Rs 140.44.
The court’s ruling on Friday invalidated tariffs that had been introduced under a national emergency law, a move with significant implications for global trade flows. The levies had raised fears of higher costs and demand disruption in key export markets, including the US -- a crucial destination for Indian apparel and home textile makers.
Over the weekend, Trump said he would raise a temporary tariff to 15 percent, adding a fresh layer of uncertainty. However, equity markets appeared to focus on the immediate relief from the court verdict, particularly for sectors with meaningful US exposure.
The positive undertone in textiles stocks also mirrored the broader market mood. Benchmark indices Sensex and Nifty were trading around half a percent higher in late morning deals, while India VIX declined, signalling lower volatility expectations.
Within the textile pack, gains were selective rather than broad-based. Broader stocks showed a mixed trend around 11 am, suggesting stock-specific positioning after the initial relief rally.
Arvind Ltd was up 1.2 percent at Rs 372.15, while Page Industries traded 0.34 percent higher at Rs 32,850. Gokaldas Exports, which had opened in the green, slipped 3.3 percent to Rs 763.1 amid profit booking. KPR Mill was down 0.98 percent at Rs 924.4, and Alok Industries was largely flat at Rs 14.71, down 0.07 percent.
The divergent moves indicate that on one hand the tariff setback for the US administration provided near-term comfort, but on the other hand investors remain cautious and await greater clarity on the policy path ahead.
Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
