Sensex, Nifty Rise After Trump Hints at Major US-India Trade Agreement
Indian stock markets opened on a positive note Friday, buoyed by optimism over a potential "great" trade deal between India and the United States, as hinted by former US President Donald Trump. Early morning trade saw gains led by PSU banks and IT stocks, with benchmark indices climbing steadily.
Mumbai: Indian stock markets opened on a positive note Friday, buoyed by optimism over a potential “great” trade deal between India and the United States, as hinted by former US President Donald Trump. Early morning trade saw gains led by PSU banks and IT stocks, with benchmark indices climbing steadily.
Table of Contents
At 9:15 AM, the BSE Sensex was up 150.40 points or 0.18%, trading at 83,906.27, while the NSE Nifty gained 54.50 points or 0.21% to trade at 25,603.
Trump Talks Up ‘Very Big’ Trade Agreement with India
Speaking at the ‘Big Beautiful Event’ held at the White House, Trump indicated a significant bilateral trade deal with India could soon materialize. His comments follow recent four-day closed-door negotiations between Indian and US trade teams, which analysts believe laid the groundwork for a broader economic partnership.
Also Read: CM Revanth Reddy Attends Anti-Drugs Day Event in Hyderabad
Market Sentiment Boosted by Tariff Extension Hopes
Investor sentiment also received a boost from reports that the July 9 US tariff deadline might be extended, reducing short-term geopolitical and trade uncertainties.
“The bull market has navigated multiple headwinds like high inflation, aggressive rate hikes, and geopolitical conflicts. The extension of the tariff deadline further adds momentum to this rally,” said Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Sector Watch: IT, PSU Banks Lead Gains; Banking Index Slips
- Top Gainers on Sensex: L&T, Tata Steel, SBI, Tata Motors, NTPC, HCL Tech
- Top Losers: HDFC Bank, Bajaj Finserv, Kotak Mahindra Bank, Bajaj Finance
The Nifty Bank index slipped 0.14% to 57,126.45, while the Nifty Midcap 100 rose 0.47% to 59,505.65, and the Nifty Smallcap 100 climbed 0.61% to 18,920.30.
Technical Outlook Remains Bullish
Market experts believe the recent technical pattern supports further bullish movement.
“The inside day pattern earlier this week was a precursor to a breakout. We saw broad-based gains yesterday, and the 25,700–25,800 zone could be the next target,” said Akshay Chinchalkar, Head of Research, Axis Securities.
FIIs Remain Buyers; DIIs Turn Sellers
On June 26, Foreign Institutional Investors (FIIs) were net buyers, pumping in ₹12,594.38 crore, while Domestic Institutional Investors (DIIs) sold equities worth ₹195.23 crore.
Global Cues Mixed
In Asia, markets in China, Bangkok, Seoul, and Hong Kong were trading in the red, while Japan bucked the trend with modest gains. On Wall Street, the Dow Jones rose 404.41 points (0.94%) to 43,386.84, the S&P 500 added 0.80%, and the Nasdaq surged 0.97%.
