India's stock benchmarks rise after US court rejects Trump tariffs; IT caps gains

India's stock benchmarks Nifty .NSEI and Sensex .BSESN rise about 0.4% each after the U.S. Supreme Court strikes down import levies imposed by President Donald Trump

Twelve of the 16 major sectors advance; high weight financials .NIFTYFIN rise 1%, state-owned lenders .NIFTYPSU add 1.6%

After the U.S. court ruling, Trump says he will raise a temporary tariff on imports from all countries from 10% to 15%

"The developments are incrementally positive for India as India previously was supposed to pay 18% tariffs," say analysts at Elara Capital

Ruling could trigger uncertainty over what happens to negotiated trade deals and the related subsections -- Elara Capital

IT index .NIFTYIT falls 1.5% after Jefferies downgrades six software companies including TCS TCS.NS, Infosys INFY.NS and HCLTech HCLT.NS, citing potential structural changes in business from AI-linked disruption

The broader small-caps .NIFSMCP100 rises 0.2%, while mid-caps .NIFMDCP100 drop 0.5%

Among stocks, IDFC First Bank IDFB.NS tumbles 20% on suspected $65 million fraud

AU Small Finance Bank AUFI.NS drops 7% after Haryana government de-empanels lender from government business following the recent disclosure of suspected fraudulent activities