Hello and welcome to our live coverage of Indian stock markets, where we track the day's trade after a US-India deal cut US reciprocal tariffs on Indian imports and early indicators pointed to a higher open. Indian equity benchmarks surges on Tuesday. The BSE Sensex rose 2,319 points as of 9:20 am. It had risen as much as 4,200 points to 85,871. The NSE Nifty 50 rose 2.8% to 25,783.95 after rises as much as 5% intraday. Markets are tracking the trade deal between India and the United States that lowers reciprocal tariffs on Indian imports to 18% from 25%. The change takes effect immediately. India had earlier faced total tariffs of 50%, including a 25% penalty linked to buying Russian oil. The US Embassy confirmed the overall tariff rate is now 18%
Track minute-by-minute updates on stock market coverage here.
Stock Market Live: Gold Rose On Tuesday, Recovering Part Of A Steep Two-Day Slide
Spot gold climbed as much as 4.2% to above $4,855 an ounce. It had dropped 4.8% in the prior session after a fall on Friday that marked its biggest one-day decline in more than 10 years. Silver gained as much as 8.1% to trade above $85, after slipping 7% on Monday and logging a record intraday drop on Jan. 30.
Both metals hit fresh highs last month after a fast run-up that caught traders off guard.
India-US Trade Deal Live Updates: Auto To Textile — Here Are The Sectors Set To Benefit From Lower Tariffs
With the tariff burden now lower, companies with significant exposure to the US are expected to see relief in margins, improved competitiveness, and better order visibility. Among Indian exporters, sectors such as textiles, seafood, auto ancillaries, chemicals, and select consumer companies are likely to be the key beneficiaries.
After a spell of suffering, India's trade deal with US will bring long-sought relief to the textiles and apparel sector. The sector will be the highest beneficiary for the landmark pact as US accounts for nearly 28% of India's total textile exports, making it the single largest destination for Indian textile manufacturers. Additionally, more than half of India's textile and apparel imports are linked to US cotton, highlighting the deep trade integration between the two countries.
Stock Market Live: Adani Enterprises Shares Hit 10% Upper Circuit Ad Group Stocks Rally
Stock Market Live: Rupee Strengthens Past 91 A Dollar, Appreciates Over 1% To 90.42, 10-Year Yield Falls
The Indian rupee strengthened on Wednesday, while the yield on the 10-year note declined after India and the United States agreed to a trade deal that cuts US reciprocal tariffs on Indian imports to 18% from 25%.
The local currency appreciated as much as 1.2% to 90.42 against the greenback. Meanwhile the yield on the 10-year note fell as much as five basis points to 5.71%
Stock Market Live: GIFT Nifty Surges Over 1%
The GIFT Nifty surges over 1% or nearly 300 points to trade at 26,155.00 as of 8:46 am
Stock Market Live: Monday Market Recap
- Indian equities opened in the red, dropped nearly 0.60% intraday, then gained more than 1% to close in green.
- The move snapped a two-day fall.
- Nifty ended up 262.95 points, or 1.06%, at 25,088.40.
- Sensex ended up 909.11 points, or 1.13%, at 81,632.05.
US-India Trade Deal Live: What Trump Said
- Trump said the United States agreed to reduce the reciprocal tariff from 25% to 18%.
- He said India would move to reduce its tariffs and non-tariff barriers against the United States to zero.
- Trump said Modi committed to “Buy American” at a higher level.
- Trump said this would include over $500 billion of US energy, technology, agricultural, coal and other products.
- Trump said Modi agreed to stop buying Russian oil and to buy more from the United States and, potentially, Venezuela.
- Trump said the two leaders also discussed ending the war in Ukraine.
Stock Market Live: Trade Deal And Tariffs Snapshot
- India and the United States have agreed to a trade deal that cuts reciprocal tariffs on Indian imports to 18% from 25%, Trump said.
- Trump said the deal is effective immediately
- India had earlier paid total tariffs of 50%, including a 25% penalty linked to buying Russian oil
- The US Embassy confirmed the overall tariff rate is now 18%.
Catch minute-by-minute updates on the latest developments on India-US tariff truce here.