Markets

Sensex, Nifty open higher after US Supreme Court strikes down Trump tariffs

Broader markets gained, while IDFC First Bank fell 10% amid a suspected $65 million fraud probe

February 23, 2026

Markets gain as global trade outlook shifts; IDFC First Bank tumbles 10% on suspected fraud probe

Indian equity benchmarks opened in the green on Monday after the Supreme Court of the United States struck down sweeping import tariffs imposed by US President Donald Trump, reshaping the global trade outlook.

The Nifty 50 rose 0.42% to 25,678.4 at the opening bell, while the BSE Sensex gained 0.11% to 82,906.83.

Broad-based gains across sectors

Fourteen of the 16 major sectoral indices logged gains in early trade, indicating broad-based optimism. Broader markets also advanced, with small-cap stocks rising 0.7% and mid-caps adding 0.2%.

Investor sentiment was buoyed after the US Supreme Court ruled that President Trump had exceeded his authority by imposing sweeping tariffs under a law meant for national emergencies — a decision with far-reaching implications for global trade and supply chains.

Trump signals fresh tariff move

Despite the ruling, Trump said on Saturday that he would raise the temporary tariff on US imports from all countries from 10% to 15%, the maximum allowed under the relevant law, adding another layer of uncertainty to global markets.

The legal setback and evolving tariff stance have prompted caution in trade negotiations. According to a Reuters report citing a trade ministry source, India has delayed plans to send a trade delegation to Washington this week in light of the uncertainty.

IDFC First Bank slides 10%

Among individual stocks, IDFC First Bank plunged nearly 10% after the lender disclosed it was investigating a suspected fraud of $65 million allegedly involving some employees and accounts linked to local government entities.

The sharp decline in the banking stock weighed slightly on financial counters, though overall market sentiment remained positive.

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