The domestic equity indices traded with strong gains in early trade after India and the United States finalised a long-awaited trade deal late Monday night. Positive global cues and improved investor sentiment following the agreement boosted buying interest across sectors, lifting benchmark indices in the opening session. The Nifty traded above the 25,750 mark. All the sectoral indices traded in the green on the NSE with realty, financial services and auto shares gaining the most. At 09:28 IST, the barometer index, the S&P BSE Sensex, zoomed 2,340.53 points or 2.89% to 84,021.86. The Nifty 50 index added 701.10 points or 2.83% to 25,789.80. In the broader market, the S&P BSE 150 MidCap Index rallied 3% and the S&P BSE 250 SmallCap Index jumped 2.73%. The market breadth was strong. On the BSE, 2,894 shares rose and 404 shares fell. A total of 143 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, was up 7.51% to 14.91. Foreign portfolio investors (FPIs) sold shares worth Rs 1,832.46 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 2,446.33 crore in the Indian equity market on 2 February 2026, provisional data showed. Stocks in Spotlight: Ather Energy added 4.86% after its consolidated net loss narrowed to Rs 84.6 crore in Q3 Fy26 compared with net loss of Rs 197.8 crore in Q3 FY25. Revenue from operations jumped 50.2% YoY to Rs 953.6 crore in Q3 FY26. Tata Chemicals shed 0.76%. The company's consolidated net loss widened to Rs 93 crore compared with net loss of Rs 53 crore posted in corresponding period last year. Revenue from operations fell 1.11% YoY to Rs 3350 crore during the quarter. Bajaj Housing Finance added 1.94% after it has reported a 21.33% jump in consolidated net profit to Rs 664.89 crore on 17.85% increase in revenue from operations to Rs 2885.93 crore in Q3 FY26 over Q3 FY25. 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. Numbers to Track: The yield on India's 10-year benchmark federal paper shed 0.74% to 6.719 compared with previous session close of 6.769. In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 90.4750 compared with its close of 91.4950 during the previous trading session. MCX Gold futures for 2 April 2026 settlement added 3.04% to Rs 148,541. The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.16% to 97.45. The United States 10-year bond yield rose 0.09% to 4.282. In the commodities market, Brent crude for April 2026 settlement fell 20 cents or 0.30% to $66.10 a barrel. 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 |