New Delhi, Oct. 30 -- After remaining range-bound for nearly four months, the Nifty 50 index is inching towards its September 2024 high, buoyed by optimism over a potential India-US trade deal, improved corporate earnings for the July-September 2025 quarter, and on the back of a policy rate cut by the US Federal Reserve late on Wednesday.

The trade deal hopes gathered steam on Wednesday after US President Donald Trump said during the APEC CEO Summit in South Korea, "I'm doing a trade deal with India, and I have great respect and love for Prime Minister (Narendra) Modi. We have a great relationship."

The benchmark Nifty 50 closed at 26,053 on 29 October, just 224 points short of its 27 September 2024 peak of 26,277. Market momentum has a...