Market Brief: Indian Equities Surge on US Tariff Ruling Indian benchmark indices opened with significant gains on Monday, February 23, 2026. The BSE Sensex climbed over **600 points** to cross the **83,300** mark, while the Nifty 50 advanced past **25,700**. This rally follows a pivotal legal development in the United States that has reshaped global trade expectations. The primary catalyst was the US Supreme Court's Friday decision to strike down President Donald Trump's sweeping global tariffs. The court ruled 6-3 that the administration exceeded its authority under the International Emergency Economic Powers Act. This judgment effectively invalidated a central pillar of recent US trade policy, which had been a major source of volatility for emerging markets. Market sentiment was further bolstered by the prospect of significant corporate refunds. Estimates suggest over **$175 billion** in previously collected US tariffs could be subject to potential claims. In India, export-oriented sectors such as IT, Pharmaceuticals, and Textiles are leading the gains as the effective tariff burden on Indian goods is expected to ease toward **10%**, down from earlier peaks near **25%**. Global cues remain cautiously optimistic. While the court ruling provides immediate relief, the US administration has already responded by announcing a new **15%** global tariff rate through alternative legal channels. However, investors view the judicial intervention as a vital check on executive trade power, leading to a more predictable—if still contested—trade environment. Domestic institutional investors supported the rally, acting as net buyers of equities worth **₹2,637 crore** in recent sessions. This offset continued selling by foreign portfolio investors. Additionally, a **1%** drop in crude oil prices on Monday further eased inflationary concerns for the Indian economy. Gains are broad-based across Dalal Street, with heavyweight stocks in the banking and auto sectors showing strong momentum. The GIFT Nifty had earlier signaled this gap-up start, trading at a premium of **163 points** before the domestic market opening. This [Sensex and Nifty analysis](https://www.google.com/search?q=https://www.youtube.com/watch%3Fv%3DR30v98u3eO8) provides a deeper look into how the US Supreme Court decision specifically impacts Indian export sectors.