The stock market (Share Market Live Updates) is expected to open with strong gains on February 3, because US President Donald Trump said on February 2 that he has agreed to a trade deal (US-India Trade Deal) with India. According to Trump, India has also agreed to stop buying Russian oil and buy more oil from the US and potentially Venezuela.
US-India Trade Deal: Stock market will benefit
New Delhi. The Indian stock market (Share Market Live Updates) is expected to open with strong gains on February 3, because US President Donald Trump said on February 2 that he has agreed to a trade deal (US-India Trade Deal) with India. According to Trump, India has also agreed to stop buying Russian oil and buy more oil from the US and possibly Venezuela. In a social media post after his talks with Prime Minister Narendra Modi, Trump said, "Out of our friendship and respect for Prime Minister Modi, and in accordance with his request, effective immediately, we have agreed to a trade deal between the United States and India under which the United States will impose lower reciprocal tariffs, reduced from 25% to 18%."
There is a tremendous rise in Gift Nifty at around 7.30 in the morning. GIFT Nifty is at 26,068, up 932.50 points or 3.71 percent. On the trade deal, Trump also said that Modi has also promised to buy American energy, technology, agriculture and other products worth more than $500 billion.
US-India Trade Deal LIVE: Managing Director and CEO of NSE praised the deal
National Stock Exchange Managing Director and CEO Ashish Chauhan has commented on the India-US trade deal, which will see US tariffs on Indian goods reduced from 50% to 18% immediately. Chouhan said, "This is a welcome step forward for global trade! Congratulations! Following talks between US President @realDonaldTrump and Indian Prime Minister @narendramodi this evening, tariffs on Indian goods have been reduced from 50% to 18% with immediate effect. This is a huge win for business, supply chains, and the India-US partnership. Many congratulations to the teams involved in striking this historic deal."
Share Market Live Updates: Quarterly results of these companies will come today
Bajaj Finance, Adani Enterprises, Adani Ports & Special Economic Zone, One MobiKwik Systems, Aarti Drugs, Aditya Birla Capital, Dr. Agarwal Health Care, Castrol India, Firstsource Solutions, HFCL, JK Lakshmi Cement, Kansai Nerolac Paints, Mankind Pharma, Nazara Technologies, NMDC, Pidilite Industries, Restaurant Brands Asia, Triveni Turbine, Truett Bioenergy, Varun Beverages and Zydus Wellness will declare their quarterly results today.
Stock Market News Live: Keep an eye on textile, automobile and jewelery stocks
The focus is expected to be on textile companies like Trident and Welspun Living as well as auto and auto ancillary stocks. Increased interest can also be seen in export-driven segments like gems and jewellery, machinery and automobiles.
Share Market Live Updates: Which sectors and shares are expected to get more boost?
Pharma stocks like Aurobindo Pharma, Cipla and Glenmark Pharmaceuticals, as well as defense companies like BEL, HAL and Cochin Shipyard are likely to see action. Active trading can also be seen in IT companies like Infosys, Wipro, HCL Tech and Tech Mahindra.
US-India Trade Deal LIVE Updates: Export sectors will get more benefits
After the US announced reduction in tariffs on Indian goods by up to 18 percent, the market is expected to be in greater focus on several segments. With this development, export related sectors have come into limelight. Especially those export sectors which send goods to America.
US-India Trade Deal: Stock market expected to rise
Due to the trade deal between India and America, a strong start is expected in the Indian stock market. The absence of a trade deal was considered a big burden for the Indian equity market. The rupee was also under pressure due to foreign outflows. But now there is hope that things can get better.