New Delhi, Feb 3 (.) Reacting on the India-US trade deal, the Indian Stock Market settled 2.5 per cent higher today with all the major indices trading in the green coupled with strong rupee sentiment.
At closing, the BSE Sensex soared up by 2,072 points or 2.5 per cent to end positive at 83,739.75,, while the NSE Nifty shot up by 639 points or 2.5 pc to 25,727.
The partially-convertible Indian rupee saw a strong appreciation today, rising to a three-week high of Rs 90.19 against the US dollar.
Nifty Smallcap and Midcap indices also surged around 3 pc in trade today.
The combined market capitalisation of BSE-listed companies increased to Rs 467.35 lakh crore from Rs 455 lakh crore in the previous session.
Among the sectors, all indices ended in the green. Nifty Realty index surged over 4 pc, followed by Chemical, Pharma, and Consumer Durables indices also jumped more than 3 pc each. Further, Nifty Bank, Auto, Metal and PSU Bank also added between 2.5-3 pc.
On Nifty50, only 4 stocks ended in the red including Tech Mahindra (down by 0.66 pc), Bharat Electronics (0.16 pc), and SBI Life Insurance (0.08 pc).
The top gainers included Adani Enterprises up by 10.40%, Adani Ports up by 9.12 pc, and Jio Financial Services up by 8.15 pc.
On the NSE, 2,694 stocks advanced while only 534 declined in trade today. 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 Childrens 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 pc (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 pc to 18 pc.
As per a PMO statement, PM Narendra Modi spoke to President Donald Trump, and thanked the latter on behalf of 1.4 billion people of India for the wonderful announcement of reducing tariff on Indian products to 18 pc.
PM 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.”
. VK .