Mumbai : The decision to impose higher custom duty on Mexico and Canada for the next one month has created an atmosphere of enthusiasm in the Asian stock markets due to the decision of US President Donald Trump. This is also providing a boom in domestic markets. The effect of this is that the 30 -share Sensex of BSE has come up 1,397 points, while the Nifty also got a profit of 378 points.

Analysts said Trump's decision to postpone the decision to impose higher custom duty on Canada and Mexico for 1 month returned to the stock markets. This decision was going to be effective from Tuesday itself.

One month high

BSE's 30 -share standard index Sensex jumped 1,397.07 points, or 1.81 percent, closed at 78,583.81 points to one month. During the trading, the Sensex rose 1,471.85 points to 78,658.59 points. The National Stock Exchange i.e. NSE's standard index Nifty also rose 378.20 points, or 1.62 percent to 23,739.25 points, which is one month's highest level.

Sensex company

Larsen & Toubro recorded a strong rise of about 5 percent in Sensex companies. Apart from this, Adi Ports, IndusInd Bank, Tata Motors, Reliance Industries, UltraTech Cement and Asian Paints were also prominently benefited. On the other hand, ITC Hotels, Jomato, Nestle and Maruti Suzuki shares were declining.

Stock market boom

Vinod Nair, head of research of Jiojit Financial Services, said that the Indian market had failed to maintain the optimistic environment caused by the budget on Monday due to geopolitical risks arising out of the 'Trump Fee War'. But as soon as the global perception improved, there was a sharp jump in the domestic stock market.

The BSE Midcap index jumped 1.35 percent in the comprehensive market, while the smallcap had a profit of 1.20 percent. Out of the companies listed on BSE, 2,509 rose, while 1,410 shares fell and 154 others remained unchanged.

Ajit Mishra, Senior Vice President of Railways Broking Limited, said that the domestic market was strong due to the boom in the global markets and amid positive perception, the growth of big companies strengthened the increase in big companies. The market continued to rise all -round and all major segments climbed.

US market in negative scope

In the area -wise indices, capital product segment gained 3.42 percent, industrial segment 2.59 percent and energy segment by 2.50 percent. All other sections except FMCG were also successful in registering speed. Other markets in Asia led to a rapid position in South Korea's Capsy, Nikki in Japan and Hongseng in Hong Kong. However, most of Europe's markets were in a decline in the afternoon trading. On Monday, the US markets were also closed under negative scope.

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Global oil standard Brent crude fell 1.05 percent to $ 75.16 per barrel. According to the stock market data, foreign institutional investors i.e. FII sold shares worth Rs 3,958.37 crore on Monday. On Monday, the Sensex fell 319.22 points to 77,186.74 points and the Nifty was 121.10 points to close at 23,361.05 points.

(With agency input)