Mumbai— Indian stock markets surged on Thursday after U.S. President Donald Trump claimed that India had agreed to eliminate tariffs on a range of American goods as part of a bilateral trade agreement. The announcement significantly boosted investor sentiment, sending key indices soaring.
The benchmark Sensex jumped 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 rallied, gaining 395.20 points, or 1.6%, to settle at 25,062.10 — its first close above the 25,000 mark since October 2024. During the session, Nifty traded between 24,494.45 and 25,116.25.
Market analysts said the breakout above recent consolidation levels and the move past previous swing highs signal further bullish momentum. “Immediate resistance is seen at 25,360, above which additional upside could unfold,” said Rupak De, Senior Technical Analyst at LKP Securities. “Support is expected around 24,400 in the short to medium term.”
Among the Sensex’s 30 constituent stocks, Tata Motors led the rally with a 4.16% gain, followed by HCL Technologies, which rose 3.37%. Other top performers included Eicher Motors (2.22%), Adani Ports (2.19%), Maruti Suzuki, Asian Paints, and ICICI Bank.
IndusInd Bank was the only stock in the red, slipping 0.16%.
The rally extended to broader markets as well. The Nifty Midcap 100 index climbed 0.70%, while the Nifty Smallcap 100 gained 0.54%. All sectoral indices on the NSE ended in positive territory, indicating widespread buying across the board.
Volatility also eased, with the India VIX — a measure of market fear and uncertainty — falling 1.93% to close at 16.89.
Analysts attributed the surge to easing global trade concerns, optimism over India-U.S. economic ties, and strong domestic fundamentals. “The combination of positive international cues and broad-based buying indicates a bullish undertone in the market,” one analyst noted. (Source: IANS)
