India-US trade deal 99% finalised, says Sergio Gor
The US Ambassador to India shared that negotiations between India and the US have been underway for nearly one-and-a-half years.
Reacting to the India-US trade deal, the Indian Stock Market settled 2.5 per cent higher on Tuesday with all the major indices traded in the green. At closing, Sensex was at 83,739.75, up by 2072 points or 2.5 per cent, while Nifty was at 25,727, up by 639 points or 2.5 per cent.
Meanwhile, the Indian rupee saw a strong appreciation, rising to a three-week high of Rs 90.19 against the US dollar.
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Nifty Smallcap and Nifty Midcap indices also surged around 3% in trade. The combined market capitalisation of BSE-listed companies increased to Rs 467.35 lakh crore from Rs 455 lakh crore in the previous session.
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Among the sectors, all indices ended in the green. Nifty Realty index surged over 4%, Nifty Chemical, Pharma, and Consumer Durables indices also jumped more than 3% each. Further, Nifty Bank, Nifty Auto, Nifty Metal, Nifty PSU Bank also added between 2.5-3%.
On Nifty50, only 4 stocks ended in the red including Tech Mahindra (0.66%), Bharat Electronics (0.16%), and SBI Life Insurance (0.08%).
The top gainers included Adani Enterprises up by 10.40%, Adani Ports up by 9.12%, and Jio Financial Services up by 8.15%.
2,694 stocks advanced while over only 534 declined in trade today on the NSE. Meanwhile, 90 remained unchanged.
Around 58 stocks hit their 52-week highs while 68 stocks hit their 52-week lows in intraday trade on the NSE.
Those hitting highs were eClerx Services, Sundaram Finance, Ashok Leyland, JSPL, SBI, Nestle India while lows included Rainbow Children’s Medicare, Saregama India, and Reliance Infra.
JP Morgan reiterated its 2026-end target of 30,000 for Indian benchmark index Nifty 50 after India-US trade deal. This marks a rise of nearly 20 percent (4,922 points) from the previous closing level of 25,088.40.
“A comprehensive bilateral agreement may lead to increased foreign investment, a stronger rupee, and improved earnings visibility for export-oriented sectors,” JP Morgan said.
India and the United States have finalised a long-awaited trade deal after nearly a year of prolonged negotiations and multiple rounds of talks lowering tariffs on Indian imports from 25% to 18%.
As per a PMO statement, PM Modi spoke to President Trump, and thanked President Trump on behalf of the 1.4 billion people of India for the wonderful announcement of reducing tariffs on Indian products to 18%.
Prime Minister Narendra Modi had confirmed the deal in a post on social media platform X saying, “Wonderful to speak with my dear friend President Donald Trump today. Delighted that Made in India products will now have a reduced tariff of 18 per cent.”
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