Stock Market Live Updates: Indian benchmark indices — the Sensex and Nifty — held on to strong gap-up gains in Tuesday’s trade after India and the US sealed the long-awaited trade agreement overnight.
US President Donald Trump announced that reciprocal tariffs on Indian goods would be reduced to 18 per cent from 25 per cent, providing a major boost to market sentiment.
At around 10 AM, the NSE Nifty was trading at 25,663, up 574 points or 2.29 per cent, while the BSE Sensex stood near 83,595, higher by 1,929 points or 2.36 per cent.
Market breadth remained firmly positive, with 27 of the 30 Sensex constituents in the green. Adani Ports, Bajaj Finance, Eternal, Bajaj Finserv, Reliance Industries, Infosys, Titan, M&M, L&T, IndiGo, Sun Pharma, Trent, HCL Tech and Maruti Suzuki led the rally, rising between 3 per cent and 7 per cent.
Broader markets also participated in the upmove. The Nifty Midcap 100 and Nifty Smallcap indices came off their intraday highs but were still trading 2.5–2.75 per cent higher.
Sectorally, gains were broad-based, with the Nifty Auto, IT, Metal, Bank, PSU Bank and Pharma indices each advancing more than 3 per cent.
Market, industry leaders cheer deal
Prime Minister Narendra Modi welcomed the development, and market as well as industry leaders broadly endorsed the agreement. Observers say the deal removes a significant uncertainty that had been weighing on sentiment. Export-focused sectors such as gems and jewellery, machinery, equipment, and other trade-linked industries are expected to be in focus.
Also Read: India-US Trade Deal LIVE: Tariffs Lowered To 18%; Sitharaman Hails Agreement, Thanks PM Modi And Trump
How markets closed in the previous session
Indian equities ended the February 2 session on a strong footing despite intraday volatility. The Sensex jumped 943 points to close at 81,666, while the Nifty advanced nearly 263 points to finish near 25,100.