The Nifty 50 was up 0.77% to 25,044, while the BSE Sensex traded 0.75% higher at 82,336 as of 9.30 am.

All the 13 major sectors logged gains at the open. The broader, more domestically focussed small-caps and mid-caps rose about 0.4% each.

On Sunday, Trump backed off his threat to slap 50% tariffs on imports from the EU, agreeing to extend his deadline for trade talks until July 9 after European Commission President Ursula von der Leyen said the bloc needed more time to “reach a good deal.”