Mumbai– Indian stock markets rallied sharply on Thursday after former U.S. President Donald Trump claimed that India had agreed to eliminate tariffs on a range of American goods under a proposed bilateral trade agreement. The announcement significantly boosted investor sentiment, fueling gains across indices and sectors.
The benchmark Sensex surged 1,200.18 points, or 1.48%, to close at 82,530.74, after hitting an intraday high of 82,718.14. The Nifty 50 index also saw a strong breakout, jumping 395.20 points, or 1.6%, to finish at 25,062.10—crossing the 25,000 mark for the first time since October 2024.
During the trading session, the Nifty traded in a wide range between 24,494.45 and 25,116.25. Market analysts said the breakout from recent consolidation, along with a move past the previous swing high, raises the likelihood of the index testing 25,690 in the near term.
“Immediate resistance is now at 25,360. A decisive move above that could unlock further upside. On the downside, strong support lies at 24,400,” said Rupak De, Senior Technical Analyst at LKP Securities.
Among Sensex components, Tata Motors led the rally with a 4.16% gain, followed by HCL Technologies, which rose 3.37%. Other top performers included Eicher Motors (up 2.22%), Adani Ports (up 2.19%), Maruti Suzuki India, Asian Paints, and ICICI Bank.
IndusInd Bank was the only Sensex stock to close in the red, slipping 0.16%.
Mid- and small-cap stocks also joined the rally. The Nifty Midcap100 index gained 0.70%, while the Nifty Smallcap100 rose 0.54%, reflecting broad-based investor participation.
All sectoral indices on the NSE ended in positive territory, indicating widespread buying interest. Market volatility eased as well, with the India VIX—an index that measures market fear—falling 1.93% to settle at 16.89.
Analysts attributed the surge to improving global sentiment, easing geopolitical concerns, and optimism around India’s potential trade agreement with the U.S. They noted that strong domestic fundamentals and clarity on trade policy have created favorable conditions for sustained market gains. (Source: IANS)
