Sensex soars 2,300 points as India-US strike historic trade deal
Sensex shot up over 2,300 points and Nifty climbed nearly 3% on Tuesday morning, right after India and the US announced a major trade deal.
The agreement is set to ramp up business between the two countries and sent markets buzzing.
Deal to benefit sectors like textiles and engineering
For anyone watching the economy or investing, this deal means lower US tariffs on many Indian goods—reported to fall to about 18%.
The US said India would buy $500 billion in energy, tech, and farm products from the US.
This is a big win for sectors like textiles, leather, and engineering, with engineering alone accounting for about a quarter of India's merchandise exports.
Analysts expect today's market rally could be just the start
This trade breakthrough could defuse months of tension over Russian oil imports and opens new doors for "Made in India" goods.
US President Trump said, "Our amazing relationship with India will be even stronger going forward," while PM Modi highlighted how it benefits Indian industry.
Analysts expect higher revenues ahead and think today's market rally could be just the start.