Sweeping tariffs gone but Trump's 10% global tariffs on. What to expect from markets on Monday?

The stock market is poised for significant movement on Monday following the US Supreme Court's recent decision to invalidate former President Donald Trump's extensive tariffs. The GIFT Nifty index reflected this optimism with a rise of 320 points, or 1.25%, closing at 25,886. This ruling is expected to positively affect Indian export sectors like gems and jewellery, textiles, and pharmaceuticals, where Trump's tariffs had imposed a heavy 100% duty on branded drugs. Kranthi Bathini, Director of Equity Strategy at WealthMills Securities, highlighted the sentiment boost for Indian markets, while also warning of potential retaliatory measures from the Trump administration. Despite the Supreme Court ruling alleviating some tariff pressures, Trump has announced a new global 10% tariff on imports from all countries, which will be applied to Indian goods until further notice. Market experts like Gurmeet Chadha view the ruling as beneficial for underperforming markets like India and anticipate a focus shift towards economic growth and inflation reduction. While a majority of India's exports can now avoid the previous 18% tariffs, certain tariffs on steel, aluminium, and auto components remain in effect. Investors are advised to monitor market responses closely, especially in sectors affected by these tariffs.