The tariff rates were reduced from 55% to 18% for major categories and to zero for a few. The gems and jewellery stocks will remain in focus on Monday, as the category now attracts zero tariffs on US exports.
The GIFT NIFTY futures traded over 200 points higher on Monday morning, indicating a sharp gap-up opening.

On the technical front, the NIFTY50 closed above 20 EMA levels of 25,650 levels for the past full week, indicating a strong buyer sentiment at the lower levels after a sharp gain on Tuesday. The 50 EMA trend line is also showing upward-moving momentum, indicating renewed buyer confidence in the index.