GIFT Nifty surges nearly 600 points after India-US agree to trade deal

GIFT Nifty, an early indicator of how Indian equities are likely to start trading, has surged nearly 600 points after the US and India agreed to sign a trade deal, under which, the reciprocal tariff on India, which stood at 25%, will be brought down to 18%.

As part of the deal, India would be buying US energy, Tech, Agricultural, Coal and many other products, worth over $500 billion, US President Donald Trump wrote on Truth Social.

The trade deal was one of the major overhang on the sentiments surrounding the Indian markets, which many experts had said would reverse once the deal is announced.

Indian equities rebounded from Sunday's sell-off on Monday, with the Nifty gaining over 250 points and the Sensex gaining nearly 1,000 points.

To be updated with more.