New Delhi, Jan. 27 -- The stock markets gave a cold shoulder to India's landmark trade deal with the European Union on Tuesday, closing nearly unchanged despite the magnitude of the deal and what it means for the country's trade and economy. Experts said investors had already priced in the development, which comes at a time of global trade fragmentation, US-India trade frictions and elevated uncertainty.

The Nifty 50 rose nearly 0.8% during the day, before closing 0.5% higher at 25,175.40, while the Sensex finished up 0.4% at 81,857.48. Among sectoral indices, Nifty Metal rallied the most at 3%, while Nifty PSU Bank followed closely behind, with 1.8%. The top gainers of the day were Adani Enterprises (up 5.3%), Axis Bank (5.1%) and JSW S...