Mumbai, April 16 -- Indian markets rose for a second straight day on Tuesday, lifted by easing global trade tensions. The Sensex surged 1,577 points (2.10%) to 76,734.89, and the Nifty 50 gained 500 points (2.19%) to 23,328.55. With this rally, the Sensex is now 0.2% above its April 2 level -- when Donald Trump announced his reciprocal tariffs -- making India the first major market to fully recover from the losses triggered by the tariff tantrum.

Most global markets remain under pressure from Donald Trump's tariff moves, despite a temporary pause on additional tariffs for countries other than China. The 10% baseline tariff and the risk of reinstatement of additional levies in 90 days continue to weigh on sentiment. To be sure, although t...