By around 10, Feb. 3 -- Indian equities surged sharply on Tuesday after the announcement of a long-pending India-US trade agreement, with benchmark indices posting their biggest single-day gains in months, media reports said.

40 am, the Sensex was up nearly 2,300 points, while the Nifty gained more than 726 points.

The rally followed an announcement by US President Donald Trump on Monday that Washington had finalised a trade deal with New Delhi and reduced tariffs on Indian goods to 18%, easing bilateral tensions that had persisted since last year.

Under the agreement, the United States will immediately lower its reciprocal tariff on Indian imports from 25% to 18%. Announcing the decision on Truth Social, Trump said the deal was reache...