New Delhi, May 29 -- The Indian stock market benchmark indices, Sensex and Nifty 50, traded higher on Thursday mirroring upbeat sentiment in global equities after a US federal court blocked President Donald Trump's tariffs from going into effect.

Putting on hold the country-specific reciprocal tariffs imposed by Trump on the US's trading partners, the Manhattan-based Court of International Trade said the US Constitution gives Congress exclusive authority to regulate commerce with other countries that is not overridden by the president's emergency powers to safeguard the US economy.

The decision sparked a global rally in equities and commodities, with the notable exception of gold, which lost its safe-haven appeal as risk appetite improv...