The Indian financial market is pulling off a noticeable recovery while Wall Street is blinking in disbelief. Most markets buckled after US President Donald Trump lit the fuse on his tariff war with a 104% bombshell. Meanwhile, India took a moment and bounced back, printing green. After a two-day rally that made global investors sell under pressure, the Sensex and Nifty 50 decided to hold the fort on Wednesday. Both indices dipped at the beginning of the day, just to surge back marginally. India is quietly outshining Asia’s biggest players amid the intensified tariff war. Trump threw tariffs, India threw gains Since Trump’s April 2 tariff tirade, the MSCI Asia ex- Japan index has dropped 5% to stand at 552 points. On the other hand, India’s trading market remained flat. It turns out that having strong domestic fundamentals and limited US trade exposure is a pretty good look during a global economic standoff . On Tuesday, the Sensex surged by a whopping 1,577 points to 76,734.89, while the Nifty 50 leaped 500 points to 23,328.55. That puts India officially back above its pre-tariff-announcement level from April 2, making it the first major market in the world to do so. As of now, the Sensex stands at 77,078 and the Nifty 50 is parked at 23,447. Banking stocks did the heavy lifting as HDFC Bank and the State Bank of India (SBI) cut deposit rates. IndusInd Bank stole the spotlight, surging nearly 6% after some much-needed clarity on a derivatives blip. Meanwhile, IT and auto stocks lagged behind. Pharma, which has pulled out to be an overachiever in uncertain times, has rallied over 4.6% since the tariff news hit. Real estate, metals, and autos found their footing too, bouncing back from earlier jitters. The market’s mood is holding up over a better-than-usual monsoon forecast, foreign fund inflows, and retail inflation at a five-year low. Even the India VIX (the fear gauge) mellowed out, dropping 20% to 16.05. Nasdaq bleeds on H20 chip heat After hitting a slump, S&P 500 futures surged 100 points on a report that China is open to talks with Trump if he shows “respect” and names a point person. Meanwhile, Nasdaq 100 futures extend its losses to around 300 points on the Nvidia H20 chip restriction. AMD stock, which fell by 8% straight off the news of the US banning sales of Nvidia ’s H20 chip surged back marginally. The digital assets market also witnessed a dump of around 3% over the last day. Its cumulative market cap stands at $2.63 trillion with a 24-hour trading volume of $76 billion. The crypto future market has recorded a liquidation of $247 million as more than 121K traders got liquidated in the past 24 hours. The biggest liquidation order turned out to be ETH/USD valued at $2.78 million. The original crypto, Bitcoin price dropped by over 2% in the last 24 hours. BTC is trading at an average price of $83,885 as of press time. Its 24-hour trading volume is down by 4% to stand at $27 billion. However, Ethereum price also took a hit of around 4% at the same time. ETH is trading at $1,578. Cryptopolitan Academy: Tired of market swings? Learn how DeFi can help you build steady passive income. Register Now
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