Mumbai’s stock market erupted in a historic rally on Tuesday following the landmark trade agreement between India and the United States, finalized late Monday. The BSE Sensex skyrocketed nearly 3,657 points at open, hitting 85,323.20, while the NSE Nifty surged 1,219.65 points to 26,308.05. By 9:31 AM, Sensex stood at 83,920.51, up 2,254 points or 2.76%, with Nifty mirroring the gains at the same level, up 691.30 points.
All sectoral indices on Nifty flashed green, signaling broad-based enthusiasm. The Sensex touched an intraday high of 85,871.73, and Nifty peaked at 26,341.20. Midcap and smallcap indices both soared over 4%, reflecting robust market breadth.
Key sectors like auto, IT, metals, banking, PSU banks, and pharma logged gains exceeding 3%. Among Sensex constituents, 29 out of 30 stocks advanced. Adani Ports led with a stunning 6.89% jump, followed by Bajaj Finance (4.90%), IndiGo (4.66%), Bajaj Finserv (4.39%), ITC (4.16%), L&T (3.70%), and Sun Pharma (3.63%). Only ITC bucked the trend with a slight dip.
The catalyst? US President Donald Trump’s announcement of the deal slashing reciprocal tariffs on Indian goods from 25% to 18%. This move is poised to unlock new export avenues for Indian industries, fueling investor optimism and setting the stage for sustained market momentum in the days ahead.