Mumbai: Indian stock markets continued their upward trajectory on Tuesday as Trump 2.0 began, with both the Nifty 50 and BSE Sensex showing significant gains in the opening session. The Nifty 50 index opened at 23,421.65, rising by 76.90 points, or 0.33 percent, while the BSE Sensex surged by 188.28 points, or 0.24 percent, to open at 77,261.72.  

Experts believe that Trump’s second term will bring significant executive actions, particularly in areas like tariffs, immigration, tax cuts, deregulation, energy security, and the digital asset space, with immediate action expected. Ajay Bagga, a banking and market expert, noted, "Trump 2.0 is here, more experienced, more determined, and with loads of Day 1 Executive Orders. As the Trump Cabinet gets approved, a lot of these will start translating into legislation, and action on the ground will follow."  

The markets were particularly relieved by the absence of any immediate universal tariffs, a concern that had been looming over global markets. Bagga also highlighted that the US dollar, US bond yields, and global commodities are all reacting to the "Trump Impact."  

Sector-wise, all indices on the NSE opened with gains, with Nifty Metal and Nifty PSU Bank leading the charge, both up by 0.5 percent. Nifty IT also saw a rise of 0.23 percent.  Among the top gainers in the Nifty 50, Ultratech Cement, Apollo Hospital, BPCL, and Wipro saw strong openings, while Trent, Adani Enterprises, Kotak Bank, and NTPC were among the top losers.  

Asian markets

In other Asian markets, the Nikkei 225 index slipped 0.1 percent to 38,951.77, while Australia's S&P/ASX 200 gained 0.5 percent to 8,392.80. South Korea's Kospi lost 0.2 percent to 2,514.06. However, the Hang Seng index added 0.4 percent to 20,012.25, and the Shanghai Composite shed 0.3 percent to 3,233.85.  

Analysts noted that the lack of immediate tariff action from President Trump helped calm market nerves, with Stephen Innes of SPI Asset Management stating, "In a twist that calmed nerves across global markets, President Trump revealed he would not, contrary to expectations, roll out new tariffs immediately."  

In the energy sector, benchmark U.S. crude declined by $1.14 to $76.74 per barrel, while Brent crude added 13 cents to $80.28 per barrel. The U.S. dollar weakened slightly in response to the tariff uncertainty, falling to 155.14 Japanese yen from 155.61 yen, and the euro cost $1.0389, down from $1.0419.  

As India looks ahead to the quarterly earnings announcements of major companies like UCO Bank, KEI Industries, Tata Technologies, and Dalmia Bharat, the stock markets are poised to react to the economic policies of the new US administration and their potential impact on global markets.