Surging Sensex: Equity Market Hits New Heights Amid Global Trade Tensions

The Sensex crossed the 73,000 mark, driven by strong buying amid a rally in Asian markets despite global trade tensions. The Nifty also climbed. India's services sector saw significant growth in February. However, US markets suffered due to new tariffs, sparking a global selloff.

The Sensex soared past the 73,000 threshold on Wednesday, marking a significant boost as a wave of buying swept through the market, coinciding with a surge across Asian stocks. Investor optimism contrasted with the volatility in US markets following President Trump's announcement of new tariffs.

Despite global apprehensions, India's services sector registered substantial growth in February, driven by elevated domestic and international demand, with the HSBC India Services PMI Business Activity Index rising sharply from previous lows. This growth, alongside solid market performers like Adani Ports and Tata Steel, uplifted overall market sentiment.

Conversely, US equities experienced a downturn, with the S&P 500 marking its worst session of the year. Trade tensions escalated as Trump confirmed tariffs against Canada, Mexico, and China, inciting retaliatory measures and adding uncertainty to global markets. Energy prices showed slight gains with Brent crude edging up.

(With inputs from agencies.)