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Domestic equity benchmarks Sensex and Nifty surged in early trade on Tuesday after US President Donald Trump announced a major trade deal between India and the United States (US) on Monday. Under the deal, Trump\u00a0said the US will cut tariffs on Indian goods to 18% from the earlier 50%.<\/p>
At 9:15 am, the BSE Sensex jumped 2375.07 points, or 2.91%, to 84,041.53. The NSE Nifty advanced 723 points, or 2.88%, to 25,811.40.<\/p>
Reciprocal tariffs on Indian goods were cut to 18% from 25%, a move that has boosted global risk appetite. The positive external trigger is allowing investors to look beyond the recent post-Budget turbulence. The sharp sell-off after the Union Budget 2026\u201327, driven by the unexpected hike in securities transaction tax on derivatives, had pushed up trading costs and weighed heavily on F&O-focused and brokerage stocks, said Ponmudi R, CEO of Enrich Money<\/p>
Among Sensex constituents, Adani Ports surged 7.18% to Rs 1503.60. Bajaj Finance gained 6.59%, while Eternal, Bajaj Finserv and IndiGo rose 5.98%, 4.57% and 4.10%, respectively.<\/p>
The proposed trade arrangements could act as a strong multi-year trigger for the Indian economy and markets. India\u2019s growth rate could climb to around 7.5% in FY27, supported by a likely rise in exports to the US. Corporate earnings, which are already showing early signs of recovery, may gather pace and expand in the range of 16\u201318% in FY27, while the rupee is expected to strengthen sharply, said VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited.<\/p>
Asian markets traded mostly higher. At last check, Japan\u2019s Nikkei 225 surged 2.94% to 54,201.01, while South Korea\u2019s Kospi advanced 4.32% to 5,163.38. Hong Kong\u2019s Hang Seng Index was down 0.32% to 26,689.33.<\/p>
Wall Street ended higher overnight, with all three major indices closed in the green. The S&P 500 gained 0.54% to close at 6,976.44, while the Dow Jones Industrial Average jumped 1.05% to 49,407.66. The Nasdaq Composite climbed 0.56% to settle at 23,592.11.<\/p>
Meanwhile, on Monday, the Sensex advanced 943.52 points, or 1.17%, to end at 81,666.46, while the Nifty climbed 262.95 points, or 1.06%, to settle at 25,088.40.<\/p>
Vijayakumar said that the combined impact of a US\u2013India trade deal, a potential EU\u2013India agreement and a growth-focused Budget could significantly lift market sentiment and revive risk-taking appetite in the economy. The stock market, he said, is likely to start factoring in these developments in advance.<\/p>
\u201cAs markets gradually absorb the Budget impact, yesterday\u2019s rebound highlighted selective value buying in infrastructure, defence, and large-cap stocks. Overall, the trade deal offers a strong near-term sentiment boost, particularly for export-oriented and manufacturing sectors, while continued government focus on capex provides a steady underlying support for the broader market,\u201d Ponmudi said.<\/p>
On the technical front, Ponmudi said that the Nifty 50 has clawed back part of its post-Budget losses and is now testing the crucial 200-day exponential moving average around the 25,150\u201325,200 zone, which remains a key near-term pivot. Momentum indicators are showing early signs of stabilisation, with the RSI moving out of oversold territory and the MACD beginning to hint at a possible bullish crossover.<\/p>
\u201cImmediate support is placed in the 24,900\u201325,000 psychological zone, expected to act as a near-term cushion. On the upside, the key resistance lies near 25,500, a prior supply area, and a sustained move above this level could open the door for a further recovery towards 25,700 and higher,\u201d Ponmudi added.
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Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.<\/i><\/p>
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