Sensex jumps over 150 pts, Nifty tops 25,100 on strong global cues after US-Japan trade deal
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Indian benchmark indices Sensex and Nifty50 opened higher on Wednesday, following gains in Asian markets after the United States announced a trade deal with Japan, raising hopes of more such agreements.At 9:40 am, the BSE Sensex was up 160 points or 0.20% at 82,347, while the Nifty50 rose 45 points or 0.20% to 25,110.Japanese equities led the regional rally, while the MSCI Asia-Pacific index (excluding Japan) climbed 0.7%, reflecting improved investor sentiment following the trade breakthrough.Adding to the optimism, U.S. and Chinese officials are scheduled to meet in Stockholm next week to discuss extending the August 12 deadline for a bilateral trade agreement, U.S. Treasury Secretary Scott Bessent said.Easing global trade tensions is seen as a positive trigger for equities, as it reduces uncertainty over global growth and inflation—key concerns that have held the U.S. Federal Reserve back from further rate cuts.Meanwhile, hopes of an interim trade deal between India and the U.S. ahead of Washington's August 1 deadline appear to be fading. Talks remain stalled over tariff reductions on agricultural and dairy products, Reuters reported, citing Indian government sources.Among key movers, Tata Motors, Maruti Suzuki, Adani Ports, Eternal, and M&M opened with gains. On the other hand, Titan, SBI, HDFC Bank, and HUL started the session in the red.On the sectoral front, the Nifty Realty index declined over 2%, dragged by Lodha and Oberoi Realty amid block deals in both counters. In contrast, Nifty Auto, Metal, Pharma, and Oil & Gas opened higher.In the broader market, the Nifty Midcap 100 slipped 0.3%, while the Nifty Smallcap 100 edged down 0.1%.Among individual stocks, Paytm surged 3.5% in early trade after the company swung to a profit in the June quarter, supported by strong growth in its lending business and effective cost control measures. The firm also said it expects further improvement in earnings going forward."The 11th new record high for 2025 set by S&P 500 yesterday is an indication of the direction and resilience of equity markets globally. Markets are climbing all walls of worries and valuation concerns have been put on the back burner. In the near-term, this resilience is likely to continue," said Dr. VK Vijayakumar, Chief Investment Strategist at Geojit."A significant takeaway from the early Q1 results is the improving prospects of banking and digital stocks. In banking the market will be choosy with focus on the high-quality private sector banks, particularly ICICI Bank and HDFC Bank. Q1 results of Eternal and Paytm indicate steady growth potential of the digital stocks, which have a long runway of growth. Investor interest in the digital segment will remain high despite the high valuations," Vijayakumar added.Devarsh Vakil, Head of Prime Research at HDFC Securities, said, "Nifty's 5-day DEMA resistance, positioned at 25093, is the short-term resistance. The positional support of the 50-Day DEMA remains well intact at 24943. Looking ahead, 25255 could offer resistance in Nifty."Japanese shares surged to a one-year high on Wednesday as the country struck a trade deal with the United States that lowers tariffs on its autos, while also reviving hopes for an EU-US agreement that boosted European stock futures.President Donald Trump late on Tuesday said a trade deal with Tokyo will include Japan paying a lower 15% tariff on shipments to the U.S. It followed an agreement with the Philippines that will see the U.S. collect a 19% tariff rate on imports from there.EUROSTOXX 50 futures rose 1%, while Wall Street futures were up about 0.1%.Japan's Nikkei climbed over 3% as shares of automakers surged on news the deal would also lower the auto tariff to 15%, from a proposed 25%. Mazda Motor rallied 17% while Toyota Motor jumped 13.6%.Foreign Institutional Investors (FIIs) extended their selling streak for the second consecutive session, offloading equities worth Rs 3,548 crore. In contrast, Domestic Institutional Investors (DIIs) remained consistent buyers for the 12th straight day, investing Rs 5,239 crore into equities.Oil prices edged up in Asian trade on Wednesday after falling for three consecutive sessions as a U.S. trade deal with Japan signalled progress on tariffs, though gains were capped by fading hopes for a breakthrough at an EU-China summit.Brent crude futures rose 21 cents, or 0.31%, to $68.80 a barrel by 0351 GMT. U.S. West Texas Intermediate crude futures gained 17 cents, or 0.26%, at $65.48 per barrel.The Indian rupee fell 8 paise to 86.46 against the US dollar in early trade. The dollar index, which tracks the movement of the greenback against a basket of six major world currencies, rose 0.08% to 97.46 level.(With inputs from agencies)
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