After Trump’s announcement of reducing 7% tariff on India, the Indian stock market may see a rise of 1,000 points on 3rd February. At 7 am GIFT Nifty was trading up 3.07% or 772 points. Market experts believe that if the same momentum continues in GIFT Nifty till the market opens, the Sensex can recover the fall of 1,546 points on the budget day today. Along with this, due to the announcement of trade deal between India and America, there will be a rise in the market today. Trump said – agreed on trade deal with India. US President Donald Trump said on February 2 that he has agreed on a deal with India, in which the tariff will be reduced from 25% to 18%. India will stop buying oil from Russia and will buy more energy, technology and agricultural products from the US. Trump announced this on social media after the call with PM Narendra Modi. Trump had announced a 25% reciprocal tariff on India in April and then a 25% penalty in August for buying oil from Russia. A White House official told news agency ANI that only 18% tariff will be imposed on India. America will remove the 25% tariff imposed on buying Russian oil. 5 benefits for India due to reduction in tariff, the market was bullish yesterday, a day after the budget, the stock market was bullish today i.e. on 2nd February (Monday). Sensex closed at 81,666, up 943 points. Nifty also rose by 262 points. It closed at the level of 25,088. Out of 30 Sensex stocks, 24 rose and 6 declined. A rise of up to 2% was seen in Nifty’s Auto, FMCG, Metal and Oil & Gas sectors. Selling was seen in IT shares.
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Trump reduces tariffs, stock market likely to rise: Sensex may open 1,000 points higher; Announcement of trade deal between India and America
