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What is the story about?
The India-US trade deal resulted in Indian equity markets seeing a sharp upmove at the start of Tuesday's trading session, resulting in BSE-listed companies adding a total of ₹20 lakh crore to their market capitalisation.
At the close of Monday's trade, the BSE-listed companies had a cumulative market capitalisation of ₹455 lakh crore, which surged to ₹474 lakh crore in early trading. The number has fluctuated since.
Under the trade deal, tariffs on India's exports to the US will be down to 18% from the current level of 50%.
The deal has boosted prospects of textile companies, all of which are locked in a 20% upper circuit, following shrimp names, auto stocks and others.
The 1,200 point open on the Nifty 50 index is also the biggest single-day move on the index in absolute terms in history.
To be updated with more.
At the close of Monday's trade, the BSE-listed companies had a cumulative market capitalisation of ₹455 lakh crore, which surged to ₹474 lakh crore in early trading. The number has fluctuated since.
Under the trade deal, tariffs on India's exports to the US will be down to 18% from the current level of 50%.
The deal has boosted prospects of textile companies, all of which are locked in a 20% upper circuit, following shrimp names, auto stocks and others.
The 1,200 point open on the Nifty 50 index is also the biggest single-day move on the index in absolute terms in history.
To be updated with more.
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