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Indian shares eked out modest gains on Tuesday as U.S. President Donald Trump delayed imposing higher tariffs on U.S imports and indicated he would make further climbdowns on tariffs.<\/p>\n
After threatening to impose new import taxes on more than a dozen countries, Trump pushed back the effective date of those tariffs, ranging from 25 percent to 40 percent, until Aug. 1. <\/p>\n
The President also said his August 1 deadline for implementing the levies was not firm, raising mild hopes for deals over punishing tariffs. <\/p>\n
Local media reports suggested that India is still operating under the July 8 deadline and that a mini deal with the U.S. could be announced “in a day or two”. <\/p>\n
However, it was said that India will not push ahead if the deal specifics do not suit the country.<\/p>\n
The benchmark 30-share BSE Sensex edged up by 270.01 points, or 0.32 percent, to 83,712.51 while the broader NSE Nifty index closed up 61.20 points, or 0.24 percent, at 25,522.50.<\/p>\n
The BSE mid-cap ended on a flat note while the small-cap index slid 0.2 percent. <\/p>\n
The market breadth was weak on the BSE, with 2,064 shares declining while 1,969 shares advanced and 134 shares closed unchanged. <\/p>\n
Among the top gainers, private sector lender Kotak Mahindra Bank jumped 3.4 percent after a strong Q1 business<\/span> update.<\/p>\n Eternal, the parent company of Zomato, climbed 1.9 percent after announcing leadership changes. <\/p>\n Adani Ports, BEL, NTPC and Asian Paints gained 1-2 percent. <\/p>\n<\/p>\n<\/div>\n