Feb 23 (Reuters) – Indian shares are set to open higher on Monday, after the U.S. Supreme Court struck down levies imposed by President Donald Trump, prompting him to \u200craise a temporary tariff on U.S. imports to 15% from 10%.<\/p>\n
The Gift Nifty futures \u200cwere trading at 25,744.5 points as of 7:51 a.m. IST, indicating the benchmark Nifty 50 will open above Friday’s close \u200bof 25,571.25.<\/p>\n
U.S. Supreme Court on Friday struck down Trump’s sweeping tariffs, which he had pursued under a law intended for use in national emergencies, in a ruling with significant implications for global trade and economy.<\/p>\n
On Saturday, Trump said that he will raise the temporary tariff on U.S. imports from all countries \u200cfrom 10% to 15%, the maximum \u2060allowed under the law.<\/p>\n
Given the court ruling and the uncertainty over tariffs following the judgment, India has delayed plans to send a trade delegation to Washington \u2060this week, Reuters reported, citing a source in the trade ministry.<\/p>\n
The Indian delegation was scheduled to depart on Sunday to finalise an interim trade deal, after both countries agreed to a framework under which U.S. \u200btariffs \u200bon Indian goods would be reduced to 18%, while \u200bIndia committed to purchasing $500 billion worth of \u200cU.S. items over five years.<\/p>\n
Domestic equities will get off to a positive start, as sentiment is strengthened by supportive trade developments, with export-oriented sectors likely to see a bounce, two analysts said.<\/p>\n
The Nifty and Sensex logged modest rise last week, as optimism around earnings recovery drove banks higher, while AI disruption worries and U.S.-Iran tensions capped the upside. [.BO]<\/p>\n
Other Asian markets rose 1.1%, while oil prices \u200ceased ahead of another round of talks between the U.S. \u200band Iran in Geneva on Thursday. [MKTS\/GLOB] [O\/R]<\/p>\n
Among individual stocks, IDFC \u200bFirst Bank could drop after the lender \u200bsaid it was investigating a suspected fraud of $65 million by some employees involving \u200caccounts of local government entities.<\/p>\n
STOCKS TO WATCH<\/p>\n
** \u200bRailTel receives a letter of \u200bintent in a consortium with Ashoka Buildcon for a multi-year modernisation project in Maharashtra worth 11.36 billion rupees ($125.2 million)<\/p>\n
** U.S. drug regulator classifies a unit of Cipla’s supply partner, \u200bPharmathen Internation, as “official action indication” following \u200can inspection in Greece<\/p>\n
** Vikram Solar signs a 20 billion-rupee pact with Jupiter International \u200bto procure 2 GW of TopCon and PERC solar cells<\/p>\n
($1 = 90.7680 Indian rupees)<\/p>\n
(Reporting by \u200bBharath Rajeswaran in Bengaluru; Editing by Sumana Nandy)<\/p>\n","protected":false},"excerpt":{"rendered":"Feb 23 (Reuters) – Indian shares are set to open higher on Monday, after the U.S. Supreme Court…\n","protected":false},"author":2,"featured_media":305345,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[114,54,85,153672,46,4315,8083],"class_list":["post-305344","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-donald-trump","tag-il","tag-indian-shares","tag-israel","tag-tariffs","tag-u-s-supreme-court"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/305344","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=305344"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/305344\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/305345"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=305344"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=305344"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=305344"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}