Optimism Over India US Trade Deal Pushes D-Street Up, Nifty Touches 26000 Mark For First Time Since October 2024

Amid renewed optimism over an India-US trade deal, Indian benchmark indices opened higher with Nifty rose 0.73% ringing above 26,000 for the first time since September 30, 2024 and BSE Sensex hitting 85173. 40, higher 0.44%.

Close to 348 shares advanced, 141 shares declined, and 58 shares remain unchanged. The top Nifty50 gainers in today's trading session are Tech Mahindra, Titan Company, Shriram Finance, TCS, Tata Steel, while the Nifty50 top losers are Max Healthcare, Maruti Suzuki and Apollo Hospitals. 

Meanwhile, the broader market indices Nifty Midcap100 was trading higher by 0.16 per cent, while Nifty Smallcap100 was trading lower by 0.12 per cent.

Also read: What Changed For D-Street? India-US Trade Talks To Kremlin Oil Sanctions

On the other hand, the Indian benchmark stock market bourses bull run in today's trading session was also aided by the performance of textile stocks reacting to reports of a likely India-US trade pact, which would reportedly lower tariffs to 15-16% range from the current 50% US tariffs. 

Apparel manufacturer Gokaldas Exports shares rallied over 9% in trade basis the US-India trade development to hit Rs 869 apiece. The share price of Vardhan Textiles rose 8% to hit Rs 440.30 apiece, Welspun Living's share price increased 5.61% to Rs 129.40 per share, and Pearl Global Ind surged Rs 1372.40 apiece, higher by 4.37%.

Meanwhile, ahead of the company's Q2 result announcement slated for Thursday, October 23, Hindustan Unilever Ltd (HUL) shares rose over 1%., and tech giant Infosys share price surged over 3% after the promoter group, which includes Narayana Murthy and his wife Sudha Murty, opted out of the company's Rs 18,000 crore share buyback, the first since 2022. 

On Tuesday, October 21, Dalal street closed with marginal gains in the Diwali Muhurat trading session, marking the beginning of Samvat 2082. 

The Sensex had rallied 0.07% to close at 84,426.34, while the Nifty 50 rose 0.10% to 25,868.60 level. The Indian stock market was closed on Wednesday, October 22, on account of Diwali Balipratipada.

As of 9:46 am today, the BSE Sensex was 0.91% higher at 85,191.39, and Nifty was at 26,080.40 level, 0.82% higher.