The key equity benchmarks ended with robust gains today, extending gains for a second consecutive session, after India and the United States announced a long-awaited trade deal that eased tariff-related concerns which had weighed on domestic markets for months.

The Nifty settled above the 25,700 level. All NSE indices closed in the green, with realty, financial services and consumer durables stocks leading the gains.

As per provisional closing data, the barometer index, the S&P BSE Sensex zoomed 2,072.67 points or 2.54% to 83,739.13. The Nifty 50 index added 639.15 points or 2.55% to 25,727.55. In two consecutive trading sessions, the Sensex added 3.73% while the Nifty gained 3.63%.

In the broader market, the S&P BSE 150 MidCap Index rallied 2.79% and the S&P BSE 250 SmallCap Index jumped 2.91%.

The market breadth was strong. On the BSE, 3,300 shares rose and 991 shares fell. A total of 145 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, tanked 6.99% to 12.90.

India-US Trade Deal:

India and the United States on Monday announced a landmark trade deal following a phone call between Prime Minister Narendra Modi and U.S. President Donald Trump, marking a clear thaw in bilateral ties after months of tariff-related tensions.

Under the agreement, Washington will cut tariffs on Indian goods to 18% from 25% and scrap the additional 25% penalty imposed earlier over India's purchases of Russian crude oil. Trump said New Delhi had agreed to stop buying Russian oil and would move to reduce tariffs and non-tariff barriers on U.S. goods to zero.

The deal is seen as a major boost to trade relations between the two countries, which are targeting bilateral trade of $500 billion by 2030. Market participants expect the agreement to lift sentiment for Indian equities and the rupee, while export-oriented sectors such as textiles, apparel and seafood are likely to be key beneficiaries.

Modi welcomed the announcement, saying reduced tariffs on Made in India products would unlock immense opportunities for mutually beneficial cooperation between the world's two largest democracies. Commerce and Industry Minister Piyush Goyal called the pact a historic turning point, saying it would open new opportunities for farmers, MSMEs, entrepreneurs and skilled workers, while accelerating India's progress towards Viksit Bharat 2047.

Buzzing Index:

The Nifty Realty index added 4.79% to 815.30. The index rallied 6.26% in the two consecutive trading session.

Godrej Properties (up 8.82%), Lodha Developers (up 7.37%), Sobha (up 6.34%), Brigade Enterprises (up 5.98%), Prestige Estates Projects (up 4%), DLF (up 3.84%), Oberoi Realty (up 3.72%), Phoenix Mills (up 2.94%), Anant Raj (up 0.99%) added.

Stocks in Spotlight:

Bajaj Auto advanced 1.07% after the company reported 25% increase in total auto sales for January 2026, selling 4.77 lakh units as against 3.81 lakh units sold in January 2025.

Bajaj Housing Finance rose 1.58% after the company's standalone net profit jumped 21.32% to Rs 664.89 crore on a 17.8% increase in total income to Rs 2,886.04 crore in Q3 FY26 over Q3 FY25.

Maruti Suzuki India added 2.67% after the company's total production increased 9.33% to 226,146 units in January 2026, compared with 206,851 units produced in January 2025.

Bharat Wire Ropes rallied 7.30% after the company's standalone net profit jumped 22.58% to Rs 18.24 crore despite an 11.75% decline in revenue from operations to Rs 142.81 crore in Q3 FY26 over Q3 FY25.

SMC Global Securities rose 4.95% after the company's consolidated net profit jumped 47.82% to Rs 30.54 crore on a 12.06% rise in total income to Rs 495.53 crore in Q3 FY26 over Q2 FY26.

Dhampur Sugar Mills rose 0.84%. The company's consolidated net profit climbed 75.2% to Rs 26.49 crore on 9.54% increase in revenue from operations (excluding net excise duty) to Rs 451.18 crore in Q3 December 2025 over Q3 December.

City Union Bank surged 4.08% after reporting a standalone net profit of Rs 332.16 crore, up 16.14% YoY, on the back of a 17.22% rise in total income to Rs 2,001.03 crore in Q3 FY26 compared with Q3 FY25.

Transrail Lighting rallied 9.23% after the company's consolidated net profit increased 17.7% to Rs 109.74 crore on a 32.6% rise in revenue from operations to Rs 1,777.19 crore in Q3 FY26 over Q3 FY25.

Dev Information Technology (Dev IT) rallied 1.02% after the company secured an order worth around Rs 29 lakh from Gujarat International Finance Tec-City (GIFT), an undertaking of the Government of Gujarat.

Bharat Seats jumped 7.08% after the company's standalone net profit spiked 30.43% to Rs 9.90 crore in Q3 FY26, compared with Rs 7.59 crore posted in Q3 FY25. Revenue from operations rallied 60.25% to Rs 491 crore in Q3 FY26 as against Rs 306.39 crore posted in Q3 FY25.

Adani Ports & Special Economic Zone (APSEZ) surged 9.19% after the company's consolidated net profit jumped 21.16% to Rs 3,053.61 crore on 21.86% increase in revenue from operations to Rs 9,704.59 crore in Q3 FY26 over Q2 FY25.

Zydus Wellness slipped 3.24% after the company reported a consolidated net loss of Rs 39.9 crore in Q3 FY26 as against a net profit of Rs 6.4 crore recorded in Q3 FY25. Net sales more than doubled to Rs 963.3 crore in Q3 FY26 from Rs 450.8 crore in the same period last year.

HFCL added 3.43% after the company reported 41.04% jump in consolidated to Rs 102.37 crore on a 19.65% increase in revenue from operations to Rs 1,210.79 crore in Q3 FY26 as compared with Q3 FY25.

Thermax jumped 3.65% after the company's consolidated net profit surged 76.16% to Rs 204.18 crore in Q3 FY26, compared with Rs 115.90 crore in Q3 FY25. Revenue from operations grew 4.19% to Rs 2,634.68 crore in the quarter ended 31 December 2025.

Global Markets:

European stocks advanced on Tuesday as global markets settled following a short-lived sell-off in cryptocurrencies and precious metals.

Asian indices ended higher after the U.S. and India trade deal, sparking a sharp risk-on move across the region.

Japan's Nikkei 225 jumped nearly 4%, and the Topix rose over 3.3%. South Korea's Kospi surged about 6.84%, triggering a buy-side trading curb.

U.S. stocks climbed overnight as Wall Street kicked off the new month on a positive note, with investors looking past recent volatility in silver and bitcoin and turning their focus to the upcoming earnings slate. The Dow Jones Industrial Average rose 1.05%, the S&P 500 gained 0.54%, and the Nasdaq Composite added 0.56%.

Markets are also tracking key economic signals and cues from the Federal Reserve on interest rates, even as efforts continue in Washington to avert a partial government shutdown. Data releases have been disrupted, with the U.S. Bureau of Labor Statistics postponing the January jobs report and other labour data until federal operations resume.

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