India Is First Major Market to Erase Losses From April 2 Tariffs

Indian stocks rallied as trading resumed after a long weekend, with the benchmark equity index erasing all the losses triggered by US President Donald Trump’s reciprocal tariffs earlier this month.

The NSE Nifty 50 Index climbed as much as 2.4% in Mumbai on Tuesday. The gauge surpassed its closing level on April 2 intra-day, before closing a whisker below it. That made India the first major equity market globally to erase the tariff-induced losses. A broader gauge of Asian equities is still down more than 3% since the tariff announcements.

Investors are touting Indian markets as a relative safe haven ...