**GLOBAL MARKET BRIEF: February 3, 2026** **Headline: Global Stocks Rally on India-US Trade Breakthrough; Crypto Rebounds** **Market Sentiment & Key Drivers** Global equities are surging today, fueled by a landmark trade agreement between the **US and India**. President Trump announced a reduction in reciprocal tariffs on Indian imports from **25% to 18%**, while India committed to removing barriers on US goods. The deal has ignited risk-on sentiment across Asia and US futures, overshadowing mixed corporate earnings and recent volatility. **Equities: Asia Soars, Wall Street Steady** * **Asia-Pacific:** Markets witnessed a massive rally. South Korea’s **KOSPI** skyrocketed over **5%**, triggering a buy-side circuit breaker. Japan’s **Nikkei 225** climbed **2.44%**, and the **Topix** rose **1.94%**, driven by improved export outlooks. * **India:** Domestic indices are poised for a record-breaking gap-up opening. **GIFT Nifty** futures indicate a premium of nearly **800 points**, suggesting the **Sensex** could open 2,000+ points higher. * **United States:** Wall Street closed higher Monday, with the **Dow Jones** up **1.05%** and the **Nasdaq** adding **0.56%**. AI and semiconductor stocks led the charge, carrying positive momentum into today’s pre-market session. **Crypto Markets: Bitcoin Reclaims Key Levels** Digital assets are staging a recovery after a sharp sell-off. **Bitcoin (BTC)** has rebounded approximately **4.2%** to trade above **$78,600**, recovering from a dip to $75,000. **Ethereum (ETH)** also saw gains, rising nearly **6%** to trade around **$2,320**. Analysts view this as a technical bounce, though macro uncertainty remains a headwind. **Commodities & Currencies** * **Gold:** Precious metals are finding support as a hedge against volatility, with Gold trading near **$4,788/oz**. * **Oil:** Prices remain soft but stable. **Brent Crude** is hovering around **$65.90**, while **WTI** trades near **$61.70**, weighed down by ample supply despite the geopolitical optimism. * **Forex:** The **US Dollar Index (DXY)** holds steady at **97.53**. The Indian Rupee and Asian currencies are strengthening against the dollar on the back of the trade deal news. **Economic Calendar** Traders are now awaiting further details on the trade deal implementation and monitoring upcoming central bank comments. The focus remains on whether the equity rally can sustain its momentum through the US trading session.