INDICES TRADE WITH ROBUST GAINS; METAL SHARES ADVANCE

The domestic equity indices traded with major gains in the mid- afternoon trade as investors cheered the long-awaited trade agreement between India and the United States. The announcement sparked broad-based buying across sectors, enabling domestic markets to recoup losses triggered by the recent Union Budget.

The Nifty traded above the 25,750 mark. Metal shares extended gains for second consecutive trading session.

At 14:28 IST, the barometer index, the S&P BSE Sensex zoomed 2,205.63 points or 2.71% to 83,877.20. The Nifty 50 index added 678.75 points or 2.71% to 25,767.15.

In the broader market, the S&P BSE 150 MidCap Index rallied 2.97% and the S&P BSE 250 SmallCap Index jumped 2.99%.

The market breadth was strong. On the BSE, 3,339 shares rose and 885 shares fell. A total of 158 shares were unchanged.

India-US Trade Deal:

India and the United States on Monday announced a landmark trade deal following a phone call between Prime Minister Narendra Modi and U.S. President Donald Trump, marking a clear thaw in bilateral ties after months of tariff-related tensions.

Under the agreement, Washington will cut tariffs on Indian goods to 18% from 25% and scrap the additional 25% penalty imposed earlier over India�s purchases of Russian crude oil. Trump said New Delhi had agreed to stop buying Russian oil and would move to reduce tariffs and non-tariff barriers on U.S. goods to zero.

The deal is seen as a major boost to trade relations between the two countries, which are targeting bilateral trade of $500 billion by 2030. Market participants expect the agreement to lift sentiment for Indian equities and the rupee, while export-oriented sectors such as textiles, apparel and seafood are likely to be key beneficiaries.

Modi welcomed the announcement, saying reduced tariffs on Made in India products would unlock immense opportunities for mutually beneficial cooperation between the world�s two largest democracies. Commerce and Industry Minister Piyush Goyal called the pact a historic turning point, saying it would open new opportunities for farmers, MSMEs, entrepreneurs and skilled workers, while accelerating India�s progress towards Viksit Bharat 2047.

Buzzing Index:

The Nifty Metal index added 3.53% to 11,969.50. The index jumped 5.47% in the two consecutive trading session.

Adani Enterprises (up 10.61%), Welspun Corp (up 8.34%), Lloyds Metals & Energy (up 6.2%), Steel Authority of India (up 4.65%), Hindalco Industries (up 4%), Hindustan Zinc (up 3.59%), Tata Steel (up 3.2%), APL Apollo Tubes (up 3.19%), JSW Steel (up 3%) and Vedanta (up 3%) added.

Numbers to Track:

The yield on India`s 10-year benchmark federal paper shed 0.68% to 6.723 compared with previous session close of 6.769.

In the foreign exchange market, the rupee edged higer against the dollar. The partially convertible rupee was hovering at 90.1600 compared with its close of 91.4950 during the previous trading session.

MCX Gold futures for 2 April 2026 settlement jumped 6.15% to Rs 152,850.

The US Dollar Index (DXY), which tracks the greenback`s value against a basket of currencies, was down 0.18% to 97.43.

The United States 10-year bond yield added 0.12% to 4.283.

In the commodities market, Brent crude for April 2026 settlement fell 24 cents or 0.36% to $66.06 a barrel.

Stocks in Spotlight:

Dev Information Technology (Dev IT) rallied 1.01% after the company secured an order worth around Rs 29 lakh from Gujarat International Finance Tec-City (GIFT), an undertaking of the Government of Gujarat.

Bharat Seats jumped 6.77% after the company�s standalone net profit spiked 30.43% to Rs 9.90 crore in Q3 FY26, compared with Rs 7.59 crore posted in Q3 FY25. Revenue from operations rallied 60.25% to Rs 491 crore in Q3 FY26 as against Rs 306.39 crore posted in Q3 FY25.

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