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Rupee Opens At 90.40/$ Vs Monday’s Close Of 91.51/$, Strengthens By ₹1.11 Paise Against US Dollar

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The Nifty 50 index, as per futures, is expected to open with a 1000-point surge for the first time.

Following a trade agreement between India and the United States that allayed worries about tariffs and capital outflows, offshore trading indicated a notable recovery, and the Indian rupee is expected to open significantly higher on Tuesday, February 3.

KEC Intl bags multiple orders worth ₹1,020 cr across various businesses

US President Donald Trump announced on Monday (February 2) that India and the US have reached a trade agreement wherein Washington will reduce the reciprocal tariff on Indian exports to 18% from the current 50%. The development followed a phone call between Prime Minister Narendra Modi and Trump.

Early trading on Tuesday, February 3, saw a resurgence in gold, which had been down during the previous several sessions. However, experts at SAMCO Securities suggest the move should be viewed as part of a larger consolidation phase rather than a clear shift in trend.

India and the United States have announced a breakthrough trade deal, with comprehensive documentation and a formal signature coming within days, sources close to the discussions told CNBC-TV18.

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After hitting a nearly one-month low in the previous session, spot gold increased 3.7% to $4,837.16 per ounce. US gold futures increased 4.5% to $4,859.30 per ounce for April delivery. Last Thursday, January 29, gold reached a record high of $5,594.82 per ounce before prices fell by around 13% over the course of two days due to a quick correction.

GIFTNIFTY EXTENDS GAINS, CROSSES 1,100 POINTS ON INDIA-U.S. TRADE DEAL OPTIMISM, TEXTILE STOCKS IN FOCUS

On Tuesday, February 3, Indian textile stocks—including Gokaldas Exports Ltd., Welspun Living Ltd., KPR Mill Ltd., and Indo Count Industries Ltd.—that were most negatively impacted by US President Donald Trump’s imposition of a 50% tariff on Indian exports will be the focus.

This is because late on Monday night, Trump and Prime Minister Modi announced on their respective social media platforms that India and the US had reached a trade agreement.

GIFT Nifty, an early predictor of how Indian shares are likely to start trading, has jumped about 800 points after the US and India agreed to negotiate a trade deal, under which the reciprocal tariff on India, which stood at 25%, will be cut down to 18%.

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