**Global & Domestic Market Brief: Historic US-India Deal Sparks Rally** **February 3, 2026** **India Leads Global Surge on Trade Pact** Indian equity markets witnessed a historic rally today following the announcement of a landmark trade deal between the US and India. The **Nifty 50** soared over **723 points** (+2.88%) to trade above **25,800**, while the **Sensex** surged **2,300 points** (+2.82%) to cross **83,970**. Sentiment was ignited by US President Donald Trump’s decision to slash tariffs on Indian goods from **50% to 18%**, a move described by analysts as a "game changer" for Indian exports and corporate earnings. **Sectoral Highlights** Buying was widespread, with **Banking, IT, and Metal** stocks leading the charge. Large-cap heavyweights like **Axis Bank** and **Adani Ports** posted significant gains, supported by strong quarterly results and the favorable trade outlook. The mid-cap and small-cap indices also participated in the rally, reflecting broad-based optimism about India's economic growth trajectory, now projected to accelerate to **7.5%** in FY27. **US & Global Equities** US markets closed higher in the previous session, with the **Dow Jones** up **1.05%** and the **S&P 500** gaining **0.54%** to reach **6,976**. The positive momentum was driven by easing trade tensions and resilience in the tech sector, particularly AI and semiconductor stocks. The "risk-on" sentiment has rippled across Asian markets, with Japan's **Nikkei 225** jumping nearly **3.9%**. **Commodities: Oil Softens, Gold Corrects** Energy prices retreated as geopolitical tensions eased following renewed talks between the US and Iran. **Brent Crude** slipped to **$65.56** per barrel, and **WTI** fell below **$62**, providing further relief to oil-importing economies like India. Conversely, precious metals faced heavy selling pressure; **Gold** prices corrected sharply, trading around **$4,934** per ounce, as capital rotated back into high-growth equities. **Crypto Markets Under Pressure** In contrast to traditional assets, the cryptocurrency market remains in a bearish zone. **Bitcoin** slumped below **$75,000**, marking its lowest level since April 2025. The digital asset has shed approximately **40%** from its peak, weighed down by a lack of institutional momentum and a flight to safety amidst earlier geopolitical uncertainties. *** **Market Outlook** Investors will closely monitor the implementation details of the US-India trade pact and upcoming Federal Reserve commentary. While the equity trend remains strongly bullish, volatility in commodities and crypto suggests a divergent market environment where stock selection remains key.