New Delhi, Feb 3 (UNI) Markets continued to remain upbeat and at 12.35 hours Tuesday, buoyed by the Indo-US trade deal that slashed duties on Indian exports to the US from 50 per cent to 18 per cent.
The benchmark Nifty 50 traded at 25,800 at 12.40 hours, up by 2.84 per cent compared to Monday’s close. The Sensex was also similarly up by 2.84 per cent, trading at 83,989.144.
“The markets have heaved a sigh of relief as the trade dispute between the two giant democracies has been resolved. Most stocks are trading in the green today,” Vikram Sahney, a leading Delhi-based stock analyst, said.
Among market heavyweights, RIL traded at Rs 1443.20, 3.80 per cent, at 12.40; Adani Enterprises was up by 11.28 per cent and was trading at Rs 2,220 a share. While Tata Motors was trading at Rs 372, up 2.67 per cent.
Indian equity markets had opened sharply higher on Tuesday, when trading began at 9.15 and the momentum continued. The breakthrough trade deal has lifted sentiment after months in which uncertainty over global trade conditions contributed to Indian equities underperforming their Asian and emerging-market peers.
In early offshore trading before trading hours in India, Gift Nifty futures were around 26,166, signalling a strong positive start for domestic benchmarks. Gift Nifty is a US dollar-denominated futures contract linked to India’s Nifty 50 index and is widely seen as an indicator of foreign investor sentiment ahead of the local market open.
Last night, after the deal was reached, US President Donald Trump had posted on X: “It was an Honor to speak with Prime Minister Modi, of India, this morning… He agreed to stop buying Russian Oil and to buy much more from the United States.”
Sources said India is likely to purchase petroleum products, defence equipment, and aircraft from the United States and will also partially liberalise its highly protected farm sector under the new trade agreement.
Markets buoyant, post India-US trade deal
