Overview
- President Donald Trump announced a deal cutting US tariffs on Indian goods to 18% and removing the extra 25% duty tied to Russian crude, a change also confirmed by US Ambassador Sergio Gor.
- The Sensex jumped 3,656 points at the open to 85,323 and the Nifty leapt 1,220 points to 26,308, with both indices closing about 2.5% higher after intraday gains near 5%.
- The rupee strengthened roughly 1%–1.4% to about ₹90.4 per dollar as 10‑year government bond yields eased to around 6.72%.
- Market capitalization rose by about ₹12.10 lakh crore on the BSE, with export‑exposed groups such as textiles and shrimp exporters among the session’s strongest performers.
- Officials and strategists said the tariff reset removes a major overhang and could revive foreign portfolio and direct investment, though the impact will depend on the final terms and implementation timeline.