**Global Market Brief: India Rallies, Crypto Crumbles & Gold Shines** **Date:** February 4, 2026 **Market Overview** Global markets are witnessing a sharp divergence today. While Indian equities are celebrating a historic trade pact, US markets and digital assets are reeling under the pressure of hawkish Federal Reserve expectations and rising geopolitical tensions. **🇮🇳 India: Historic Surge on Trade Deal** Indian markets have decoupled from global weakness, posting massive gains following the announcement of a landmark **India-US trade deal**. * **Indices Rocket:** The **Nifty 50** surged **2.55%** to close at **25,727**, while the **Sensex** jumped over **2,000 points** (+2.54%) to **83,739**. * **Rupee Strength:** The Indian Rupee logged its best single-day performance in **7 years**, strengthening significantly against the US Dollar as foreign inflows are expected to accelerate. * **Sector Leaders:** Banking and Realty stocks led the charge, with **Bank Nifty** crossing the **60,000** mark (+2.43%). Heavyweights like **Reliance Industries** and **HDFC Bank** were top contributors to the rally. **🇺🇸 US & Global: Fed Fears & Tech Selloff** Wall Street is flashing warning signs as investors digest the nomination of **Kevin Warsh** as the next Federal Reserve Chair. Known for his hawkish stance, Warsh’s nomination has triggered fears of tighter liquidity and a smaller Fed balance sheet. * **Tech Slide:** The **Nasdaq** fell **1.43%** to **23,255**, dragged down by a selloff in AI and semiconductor stocks. **Nvidia** (-2.8%) and **PayPal** (-20%) faced heavy selling pressure. * **Geopolitics:** Tensions in the Middle East escalated after the US shot down an Iranian drone, adding to the risk-off sentiment in western markets. **🪙 Crypto: The "Warsh" Crash** The cryptocurrency market is facing a severe correction, reacting negatively to the potential regime change at the Fed. * **Bitcoin Plunge:** Bitcoin has crashed below the psychological **$80,000** level, trading near **$78,500** (down ~6.5% in 24 hours). This marks its lowest level since November 2025. * **Liquidation Cascade:** Over **$785 million** in positions were liquidated globally as "extreme fear" dominates sentiment. **Ethereum** and altcoins are seeing sharper declines, underperforming Bitcoin. **⚱️ Commodities: Flight to Safety** As equities wobble and war risks rise, capital is fleeing into traditional safe havens. * **Gold at $5,000:** Gold prices have shattered records, soaring above **$5,000 per ounce** globally. In India, prices crossed **₹1.5 Lakh** per 10 grams. * **Silver Surge:** Silver is outperforming gold with a massive **4% jump**, approaching **₹3 Lakh** per kg in domestic futures markets. * **Oil Ticks Up:** Crude oil prices are creeping higher, with **Brent** pushing toward **$68**, supported by supply concerns in the Middle East. **Outlook** Volatility is expected to remain high this week. Traders should watch for the **RBI Policy meeting** (to see if they intervene on the Rupee's rise) and further details on the US-India trade pact. Globally, the focus remains on the bond market's reaction to the new Fed leadership. *** **Next Step:**