More Stories

Informist, Tuesday, Feb. 3, 2026

 

By Gopika Balasubramanium

 

MUMBAI – Indian stock market got a strong support Tuesday from the much awaited India US trade deal, which sent the Nifty 50 clocking 5% gains, the highest intraday rise since February 2021. The index's intraday high was just 32 points away from the record high of 26373.20 points it had reached in early January. Investors turned bullish on shares of companies belonging to textile, seafood export, auto anciallary, and few speciality chemical companies. The rupee also appreciated against the greenback Tuesday on optimism of the trade deal, its highest single-day rise since December 2018. Analysts now expect the upward revisions for India's GDP estimate for 2026-27 (Apr-Mar). However, some analysts said expectations of returns from large-cap remains unchanged even after the deal. 

 

US President Donald Trump late Monday and said US has concluded a trade deal with India. Washington will cut reciprocal tariff on Indian goods to 18% from 25%, Trump said on his media platform Truth Social. New Delhi has committed to cut tariff and non-tariff barriers for American goods to zero, Trump said in a post on Truth Social. Modi's post on X, however, did not confirm the commitment of zero duty on American goods. Although the reciprocal tariff has been cut, uncertainty persists on the 25% punitive tariff on the purchase of Russian crude oil. Some Indian media reports said the US ambassador to India, Sergio Gor, confirmed that the 50% tax has been cut to 18%, though a public confirmation is awaited.

"We continue to maintain a 26,800 target for the Nifty 50 by the end of FY26 (2025-26 (Apr)), supported by steady earnings growth, improving macro visibility, and India's relative resilience amid global volatility," said Ankit Dharamshi, associate director and fund manager at RNM Capital Trust. Dharamshi said sectors such as textiles, chemicals, and gems and jewellery may gain competitiveness relative to peers, especially where tariff differentials are narrower or favourable. "...given recent policy measures, continuity in capital expenditure, and improving external visibility, FY27 real GDP growth is likely to gravitate towards the upper end of the earlier range, with a reasonable probability of upward revisions as the year progresses," he added. 

 

The Nifty 50 closed at 25727.55 points, up 639.15 points or 2.6%. The index has risen 5% to a high of 26341.20 points. The BSE Sensex closed at 83739.13 points, up 2072.67 points or 2.5%. All the Nifty 50 stocks traded higher through out the session, however, few companies such as Nestle India, Bharat Electronics, and Tech Mahindra fell towards the end of the session to close with marginal losses. All the sectoral indices ended higher, along side the mid-cap and-small cap peers. These indices outperformed the benchmark indices Tuesday with most of them closing with 3% gains. These indices were hit the hardest ever since the US tariffs were announced. 

 

Many broking firms called the India-US trade deal as a "breakthrough" and said this has removed the negative overhang over domestic financial assets since the higher tariffs were imposed by the US. Analysts at Citi said the concerns of investors over India's geopolitical isolation has been addressed by the back-to-back deals with the European Union and the US, NDTV Profit reported citing a note. Near-term growth risk for labour-intensive exports will be substantially reduced as India's tariff rates is largely in line with or lower than its peers in the region. Analysts at BofA expects the upside revisions for India's FY27 GDP projections of 6.8%, NDTV Profit reported. They also believe the Reserve Bank of India is now done with cutting rates and will continue to manage liquidity provisions carefully.

 

Economy Survey has estimated FY27 GDP growth at 6.8-7.2% while the Union Budget sees the nominal GDP for FY27 at 10%. Two heads of research expects the real GDP growth to improve by 30-50 basis points, and one called this revision as "realistic". Another research head at a domestic brokerage said there could be rise of 75-100 bps in FY27 real GDP growth.

 

However, some analysts expect the returns from the Nifty 50 companies to be largely unchanged from ther initial forecasts. They also said there would be upgrades in earnings estimates of companies for FY27 only if there are improvements seen on ground. They also said that the December quarter so far has been underwhelming and is less likely to prompt upgrades. However, they still expect single digit growth in aggregate net profit of Nifty 50 companies in FY26. 

 

STOCK ACTION

"The reason there is euphoria is because US is our largest market and we were effectively shut out," a head of research at a medium-sized brokerage said. Now, there is a competitive differential, the possibilities for India increase especially given 18% tariff compared with China's 37%, he said. "So China plus one can play out across sectors and India's trade with US can more than double and people have a broad idea on sectors that would benefit and hence you are seeing stocks in those sectors rally," he added. 

 

Shares of rice exporters, which benefit from lower tariffs, such as KRBL, Chaman Lal Setia Exports, GRM Overseas, Kohinoor Foods, Sarveshwar Foods, and AWL Agri Business closed 1-7% higher. Shares of LT Foods closed 14% higher. Indian Rice Exporters' Federation expects more shipments to the US post the lowering of reciprocal tariffs. This would restore export parity in rice with key competing origins such as Thailand and Pakistan, the federation said Tuesday.

 

Companies belonging to other sectors such as textile and seafood export that stands to benefit from the trade deal between the US and India also rose sharply. Textile manufacturers such as Vardhman Textiles, Trident, Welspun Living, Page Industries, Indo Count Industries, Kitex Garments, Gokaldas Exports, and Aravind Ltd. closed 10-20% higher. Seafood exporters namely, Apex Frozen Foods, Avanti Feeds, and Waterbase ended the session with 20% gains. Others seafood makers such as Coastal Corp. and Kings Infra Ventures closed 5-7% higher. 

 

 

Speciality chemical companies who export to the US substantially such as UPL, SRF, and Jubiliant Ingrevia also rose sharply through out the session to end with 4-8% gains. Companies that belong to auto ancilliary sector were sought after by the traders through out the session. Sona BLW Precision Forgings, Ramkrishna Forgings, Bharat Forge, Samvardhana Motherson International, Balkrishna Industries, Sansera Engineering, and Apollo Tyres ended the day with 5-12% gains. Shares of renewable energy companies with pressence in the US rose as much as 4-14?ter the announcemnet of the long-awaited India-US trade deal. Shares of Waaree Energies, Adani Green Energy, Premier Energies, Sterling and Wilson Renewable Energy closed up 5-11%.

 

 

All the Adani-group companies closed with sharp gains on Tuesday. Adani Enterprises was the top gainer of the Nifty 50 index. The stock ended 10.4% higher despite the company posting slight loss if not for a one-time income. The company reported a consolidated net profit of INR 56.27 billion, which includes a one-time income of INR 56.32 bln on sale of stake in AWL Agri Business. Adani Ports and Special Economic Zone ended with 9% gains. The company had traded at similar levels through out the session and there were no reaction from the Street on its December quarter earnings. The company's consolidated net profit missed Street estimates while its revenue surpassed. Others such as Adani Green Energy and Adani Energy Solutions closed with 10% gains.  

 

* Of the Nifty 50 stocks, 47 rose, 3 fell

* Of the Sensex stocks, 28 rose and 2 fell

* On the NSE, 2,693 stocks rose, 533 fell, and 92 were unchanged

* On the BSE, 3,279 stocks rose, 1,015 fell, and 142 were unchanged

* Nifty Realty: up 4.8%; Nifty Financial Services: up 3.3%; Nifty FMCG: up 0.4%

---

BSE                                                 NSE

Sensex: 83739.13, up 2072.67 points or 2.5%         Nifty 50: 25727.55, up 639.15 points or 2.6%

---

S&P BSE Sensitive Index	Nifty 50
Lifetime High: 86159.02 (Dec. 1, 2025)	: Lifetime High: 26373.20 (Jan. 5, 2026)
Record Close High: 85836.12 (Sept. 26, 2024)	: Record Close High: 26328.55 (Jan. 2, 2026)
2026 1st day close: 85188.60 (Jan. 1)	: 2026 1st day close: 26146.55 (Jan. 1)
2026 Closing High: 85762.01 (Jan. 2)	: 2026 Closing High: 26328.55 (Jan. 2)
2026 Closing Low: 80722.94 (Feb. 1)	: 2026 Closing Low: 24825.45 (Feb. 1)
2026 High (intraday): 85883.50 (Jan. 5)	: 2026 High (intraday): 26373.20 (Jan. 5)
2026 Low (intraday): 79899.42 (Feb. 1)	: 2026 Low (intraday): 24571.75 (Feb. 1)
2025 1st day close: 78507.41 (Jan. 1)	: 2025 1st day close: 23742.90 (Jan. 1)
2025 Closing High: 85720.38 (Nov. 27)	: 2025 Closing High: 26215.55 (Nov. 27)
2025 Closing Low: 72989.93 (Mar. 4)	: 2025 Closing Low: 22082.65 (Mar. 4)
2025 High (intraday): 86159.02 (Dec. 1)	: 2025 High (intraday): 26325.80 (Dec.1)
2025 Low (intraday): 71425.01 (Apr. 7)	: 2025 Low (intraday): 21743.65 (Apr. 7)
2024 1st day close: 72271.94 (Jan. 1)	: 2024 1st day close: 21741.90 (Jan. 1)
2024 Closing High: 85836.12 (Sept. 26)	: 2024 Closing High: 26216.05 (Sept. 26)
2024 Closing Low: 70370.55 (Jan. 23)	: 2024 Closing Low: 21238.80 (Jan. 23)
2024 High (intraday): 85978.25 (Sep. 27)	: 2024 High (intraday): 26277.35 (Sept. 27)
2024 Low (intraday): 70001.60 (Jan. 24)	: 2024 Low (intraday): 21137.20 (Jan. 24)
2023 1st day close: 61167.79 (Jan. 2)	: 2023 1st day close: 18197.45 (Jan. 2)
2023 Closing High: 72410.38 (Dec. 28)	: 2023 Closing High: 21778.70 (Dec. 28)
2023 Closing Low: 59288.35 (Feb. 27)	: 2023 Closing Low: 17311.80 (Oct. 17)
2023 High (intraday): 72484.34 (Dec. 28)	: 2023 High (intraday): 21801.45 (Dec. 28)
2023 Low (intraday): 58699.20 (Jan. 30)	: 2023 Low (intraday): 17098.55 (Jan. 17)
2022 1st day close: 59183.22 (Jan. 3)	: 2022 1st day close: 17625.70 (Jan. 3)
2022 Closing High: 63284.19 (Dec. 1)	: 2022 Closing High: 18812.50 (Dec. 1)
2022 Closing Low: 51360.42 (Jun. 17)	: 2022 Closing Low: 15293.50 (Jun. 17)
2022 High (intraday): 63583.07 (Dec. 1)	: 2022 High (intraday): 18887.60 (Dec. 1)
2022 Low (intraday): 50921.22 (Jun. 17)	: 2022 Low (intraday): 15183.40 (Jun. 17)
2021 Closing High: 61305.95 (Oct. 14)	: 2021 Closing High: 18338.55 (Oct. 14)
2021 Closing Low: 46285.77 (Jan. 29)	: 2021 Closing Low: 13634.60 (Jan. 29)
2021 High (intraday): 61353.25 (Oct. 14)	: 2021 High (intraday): 18350.75 (Oct. 14)
2021 Low (intraday): 46160.46 (Jan. 29)	: 2021 Low (intraday): 13596.75 (Jan. 29)
2020 Closing High: 47751.33 (Dec. 31)	: 2020 Closing High: 13981.95 (Dec. 30)
2020 Closing Low: 25981.24 (Mar. 23)	: 2020 Closing Low: 7610.25 (Mar. 23)
2020 High (intraday): 47896.97 (Dec. 31)	: 2020 High (intraday): 14024.85 (Dec. 31)
2020 Low (intraday): 25638.90 (Mar. 24)	: 2020 Low (intraday): 7511.10 (Mar. 24)
2019 High (intraday): 41809.96 (Dec. 20)	: 2019 High (intraday): 12293.90 (Dec. 20)
2019 Low (intraday): 35287.16 (Feb. 19)	: 2019 Low (intraday): 10583.65 (Jan. 29)
2018 High (intraday): 38938.91(Aug. 28))	: 2018 High(intraday): 11760.20 (Aug. 28)
2018 Low (intraday): 32483.8 (Mar. 23)	: 2018 Low (intraday): 9951.9 (Mar. 23)
2017 High (intraday): 34005.37 (Dec. 26)	: 2017 High(intraday): 10515.10 (Dec. 26)

 

End

 

Edited by Akul Nishant Akhoury

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

 

Informist Media Tel +91 (22) 6985-4000

Send comments to feedback@informistmedia.com

 

© Informist Media Pvt. Ltd. 2026. All rights reserved.