Sensex, Nifty wipe out weekly loss. But can this fragile rally survive Trump tariff tornado?
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Clawing back almost all the ground lost during the tumultuous week, the Sensex on Friday surged up to about 1,500 points while Nifty came close to crossing the 22,900-level in a short-covering rally in which traders adjusted their portfolios to play catch-up with global markets after Thursday’s market holiday. The trigger? US President Donald Trump’s abrupt pause on his April 2 tariff salvo—a move that came not from diplomatic benevolence, but, as market veterans point out, from the fury of the bond market. A massive selloff in US Treasuries this week pushed the 10-year yield to a precarious 4.5%, forcing the White House to blink. Trump’s backpedaling was pitched as a negotiation window, but most saw it as a desperate act to placate Wall Street. The rally was dramatic, but the question haunting every investor’s screen now is: can this momentum sustain, or was this just a classic bear market head-fake? Street View “The gap up opening in th...