India-US Trade Deal Sparks Stock Market Surge

The Indian stock market experienced a robust rally as gems, jewellery, and auto ancillary stocks soared following the announcement of a new trade deal between India and the United States. Under the agreement, tariffs on Indian goods imported to the US will be lowered to 18%, down from the current 25%.

This pivotal deal promises substantial benefits to numerous export-oriented sectors, particularly those deeply intertwined with the US market, such as textiles, electronics, and chemicals. Stocks like Goldiam International and Kalyan Jewellers enjoyed remarkable surges, underscoring the deal's perceived economic impact.

The benchmark indices, BSE Sensex and NSE Nifty, posted some of their strongest single-day gains in recent memory. This upswing reflects investors' optimistic outlook towards the diminishing trade barriers, which are likely to invigorate various labor-intensive sectors.