**Market Brief: February 3, 2026** **India-US Trade Deal Sparks Historic Rally** Global markets are displaying a sharp divergence today, headlined by a massive surge in Indian equities following the announcement of a landmark trade agreement between the US and India. The deal, which slashes US tariffs on Indian goods to **18%**, fueled a buying frenzy in Mumbai. The **BSE Sensex** skyrocketed over **2,300 points** (+4.4%) to breach **84,000**, while the **Nifty 50** surged **4.7%** to reclaim the **25,800** level. Key beneficiaries include textile and shrimp exporters, with some stocks soaring up to **20%**. **Wall Street & Global Indices** US markets are trading higher, buoyed by the positive geopolitical sentiment. The **Dow Jones** is up **1.05%** at **49,407**, and the **S&P 500** has gained **0.54%** to reach **6,976**. In Asia, Japan's **Nikkei 225** staged a strong rebound, rising **3.92%** as tech stocks recovered from recent sell-offs. **Crypto Markets Under Pressure** In contrast to equities, the cryptocurrency sector is facing significant headwinds. **Bitcoin** has slipped to approximately **$77,130**, hovering near a 10-month low. The decline is driven by heavy liquidations and market uncertainty surrounding the nomination of **Kevin Warsh** as the next Federal Reserve Chair, whose hawkish reputation has dampened appetite for speculative assets. **Commodities Slide** Commodity prices are trending lower, providing some relief on the inflation front. **Brent Crude** dropped **2.14%** to **$66.50** per barrel, while **Gold** fell **2.02%** to **$4,650**, struggling to compete with the renewed risk-on sentiment in equity markets. **Key Economic Drivers** * **Trade:** The US-India pact is the primary catalyst, allaying fears of isolation for Asian markets. * **Policy:** Investors are recalibrating expectations for US monetary policy following the Fed Chair nomination. * **Earnings:** Corporate earnings remain in focus, with major Indian conglomerates like Adani Enterprises posting significant gains post-results.