The key equity benchmarks traded with significant gains in the early afternoon trade as investors cheered the long-awaited trade agreement between India and the United States. The announcement sparked broad-based buying across sectors, enabling domestic markets to recoup losses triggered by the recent Union Budget. The Nifty traded near the 25,800 level. Consumer Durables shares extended gains for two consecutive trading sessions. At 11:28 ST, the barometer index, the S&P BSE Sensex, zoomed 2,379.76 points or 2.91% to 84,046.22. The Nifty 50 index added 709.65 points or 2.83% to 25,798.05. In the broader market, the S&P BSE 150 MidCap Index rallied 2.91% and the S&P BSE 250 SmallCap Index jumped 2.91%. The market breadth was strong. On the BSE, 3,214 shares rose and 709 shares fell. A total of 200 shares were unchanged. India-US Trade Deal: India and the United States on Monday announced a landmark trade deal following a phone call between Prime Minister Narendra Modi and U.S. President Donald Trump, marking a clear thaw in bilateral ties after months of tariff-related tensions. Under the agreement, Washington will cut tariffs on Indian goods to 18% from 25% and scrap the additional 25% penalty imposed earlier over India's purchases of Russian crude oil. Trump said New Delhi had agreed to stop buying Russian oil and would move to reduce tariffs and non-tariff barriers on U.S. goods to zero. The deal is seen as a major boost to trade relations between the two countries, which are targeting bilateral trade of $500 billion by 2030. Market participants expect the agreement to lift sentiment for Indian equities and the rupee, while export-oriented sectors such as textiles, apparel and seafood are likely to be key beneficiaries. Modi welcomed the announcement, saying reduced tariffs on Made in India products would unlock immense opportunities for mutually beneficial cooperation between the world's two largest democracies. Commerce and Industry Minister Piyush Goyal called the pact a historic turning point, saying it would open new opportunities for farmers, MSMEs, entrepreneurs and skilled workers, while accelerating India's progress towards Viksit Bharat 2047. Buzzing Index: The Nifty Consumer Durables index added 3.49% to 35,598.10. The index added 3.99% in the two consecutive trading session. Dixon Technologies (India) (up 6.37%), Kalyan Jewellers India (up 5.61%), Amber Enterprises India (up 4.54%), Crompton Greaves Consumer Electricals (up 3.66%), PG Electroplast (up 3.53%), Titan Company (up 3.43%), Havells India (up 2.91%), Voltas (up 2.82%), Blue Star (up 2.74%) and Century Plyboards (India) (up 2.42%) added. Stocks in Spotlight: RMC Switchgears surged 7.57% after the company announced that it has received orders worth Rs 200.86 crore for development of distribution infrastructure works. Veedol Corporation advanced 1.67% after the company's consolidated net profit jumped 16.63% to Rs 43.55 crore on 11.47% rise in revenue from operations to Rs 537.73 crore in Q3 FY26 over Q3 FY25. Transrail Lighting rallied 9.93% after the company's consolidated net profit increased 17.7% to Rs 109.74 crore on a 32.6% rise in revenue from operations to Rs 1,777.19 crore in Q3 FY26 over Q3 FY25. Global Markets: Most Asian indices rose on Tuesday after the U.S. and India trade deal, sparking a sharp risk-on move across the region. Japan's Nikkei 225 jumped nearly 3% and the Topix rose over 2%. South Korea's Kospi surged about 5%, triggering a buy-side trading curb. U.S. stocks climbed overnight as Wall Street kicked off the new month on a positive note, with investors looking past recent volatility in silver and bitcoin and turning their focus to the upcoming earnings slate. The Dow Jones Industrial Average rose 1.05%, the S&P 500 gained 0.54%, and the Nasdaq Composite added 0.56%. Markets are also tracking key economic signals and cues from the Federal Reserve on interest rates, even as efforts continue in Washington to avert a partial government shutdown. Data releases have been disrupted, with the U.S. Bureau of Labor Statistics postponing the January jobs report and other labour data until federal operations resume. Powered by Capital Market - Live News |