Mumbai, Feb. 3 -- GIFT Nifty:

GIFT Nifty February 2026 futures were up 298.50 points, suggesting a strong start for the Nifty 50 today.

India and the U.S. reached a major trade deal on Monday, with Washington cutting tariffs on Indian goods to 18% from 25% and scrapping the additional 25% penalty linked to India's purchases of Russian oil. Trump said India would reduce tariffs and non-tariff barriers on U.S. goods to zero and stop buying Russian crude, signalling a thaw in bilateral ties after months of tension. The deal boosts momentum toward a long-term trade target of $500 billion by 2030, lifts sentiment for Indian equities and the rupee, and is expected to benefit export-heavy sectors such as textiles, apparel and seafood.

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