The rupee traded in a narrow range and gained 7 paise to 90.40 against the US dollar in early trade on Thursday, amid corporate dollar demand and as investors are awaiting for confirmation on the India-US trade deal. Forex traders said market participants are now shifting focus from celebration to verification as no official documents have been released, and neither side has formally published the final terms. Moreover, investors are awaiting cues from Friday's RBI interest rate announcement. At the interbank foreign exchange market, the rupee opened at 90.52 against the US dollar, then gained some ground to 90.40, registering a gain of 7 paise over its previous close. On Wednesday, the rupee depreciated 15 paise to 90.47 against the US dollar. In the initial trade, it also touched 90.53 against the American currency. "Market is now waiting for confirmation and finer details before extending the rupee's rally further," CR Forex Advisors MD Amit Pabari said.Pabari further said that attention has now turned to the RBI's Monetary Policy Committee meeting. "Markets widely expect the central bank to keep interest rates unchanged tomorrow, with a growing consensus that rate cuts are unlikely at least until the end of 2026," he said. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.18 per cent higher at 97.79.Brent crude, the global oil benchmark, was trading 2 per cent lower at USD 68.07 per barrel in futures trade. "Technically, the 89.80 90.00 zone has emerged as a strong support base. With this area holding firmly, the pair now appears poised to move back toward the 90.80, 91.20 range with greater conviction," Pabari said, adding that "going forward, RBI actions will also remain a key factor to watch along with confirmation of the final trade agreement and its exact terms." On the domestic equity market front, Sensex declined 278.72 points to 83,538.97 in early trade, while the Nifty was down 94.15 points to 25,681.85. Foreign Institutional Investors purchased equities worth Rs 29.79 crore on Wednesday, according to exchange data. This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever.
13 February,2026 04:19 PM IST | Mumbai | PTIWhile the market indices continued to fall down, the gold and silver prices in commodity markets surged marginally. As reported by news agency IANS, investors took to value buying after prices moderated due to huge declines in the previous session. Gold prices in Mumbai fall by Rs 1,220 While the gold prices in MCX gained significantly, the price of yellow metal in Mumbai experienced a marginal fall. The 24-carat gold in Mumbai lowered by Rs 1,220 since yesterday and stood at Rs 158,670 for 10 grams on Friday. Whereas the 22-carat gold in Mumbai stood at Rs 1,45,470 for 10 grams. MCX gold futures surge MCX gold April futures gained 1.08 per cent to Rs 1,54,480 per 10 grams on an intraday basis. Meanwhile, MCX silver March futures added 2.59 per cent to Rs 242,564 per kg. Sandip Raichura, CEO of Retail Broking and Distribution and Director, PL Capital, while briefing about the situation, said, "Gold has recovered post the January-end collapse and is well on its way to what we believe should be USD 6,000 per ounce levels by CY26 end," as cited by IANS. Sandip further added, “Though US President Donald Trump approved a trade deal with India and hinted at a potential one with Brazil, reducing the trade-related uncertainties, higher inflation and the emerging split between the Northwest and the rest of the world sustain reserve bank buying of gold.” One of the traders, while talking to the media, said, "Gold has support at Rs 1,54,000 per 10 grams, while silver on MCX has support at Rs 242,000 per kg," as per IANS. Nifty and Sensex open in red The domestic benchmark indices on Friday continued the downward trajectory and opened under pressure. Both the Nifty 50 and the BSE Sensex witnessed sharp declines amid weak global cues and risk-off sentiment. As reported by news agency ANI, the Nifty 50 index was down at 25,571.15, declining by 236.05 points or (-0.91 per cent), whereas the BSE Sensex also opened lower at 82,902.73, falling by 772.19 points or -0.92 per cent. Apart from Nifty 50 and Sensex, Nifty 100 also declined by 0.54 per cent, while Nifty Midcap 100 fell by 0.47 per cent, as per ANI. Among sectoral indices on NSE, Nifty IT crashed sharply by 5.51 per cent, emerging as the worst-performing sector. The sharp fall in IT stocks comes amid global tech sector weakness, AI valuation repricing and concerns over AI-led disruption in SaaS stocks. Nifty Auto slipped by 0.12 per cent, Nifty Media declined by 1.31 per cent, Nifty Realty fell by 1.45 per cent and the Nifty Oil and Gas index was down by 1.19 per cent. (With inputs from IANS and ANI)
13 February,2026 12:08 PM IST | Mumbai | mid-day online correspondentThe domestic benchmark indices on Friday continued the downward trajectory and opened under pressure. Both the Nifty 50 and the BSE Sensex witnessed sharp declines amid weak global cues and risk-off sentiment. As reported by news agency ANI, the Nifty 50 index was down at 25,571.15, declining by 236.05 points or (-0.91 per cent), whereas the BSE Sensex also opened lower at 82,902.73, falling by 772.19 points or -0.92 per cent. Expressing their views on markets opening in red, experts said that IT stocks came under sharp pressure due to global tech sector weakness and risk-off sentiment. Ajay Bagga, banking and market expert, while speaking to the media, said, "Indian futures are pointing to another 0.5 per cent cut in the leading indices this morning as global risk-off sentiment impacts Indian stocks as well. In aggregate.” Bagga also added, “The key themes this morning across Asia include. Equities are under pressure with broad declines as U.S. risk-off sentiment carries over to Asia. Tech sector weakness is dominating sectoral performance, amplified by AI valuation repricing and AI disruption threats leading to SaaS stocks selling off,” as cited by ANI. Highlighting the growth concerns and weak housing demand in the global south, Bagga also said, "Bond yields are lower globally, reflecting growth concerns and weak housing demand in the US dollar losing some safe-haven drive, though movements remain mixed across crosses. Yen appreciation, reflecting safe-haven flows and relative rate dynamics. Oil prices are sliding on softer global demand forecasts, reinforcing risk-off sentiment. Market participants will be closely watching upcoming U.S. CPI data, which could either confirm the slowdown narrative or provoke further repricing in bond yields and equities." Nifty 100 declines by 0.54 per cent Apart from Nifty 50 and Sensex, Nifty 100 also declined by 0.54 per cent, while Nifty Midcap 100 fell by 0.47 per cent, as per ANI. Among sectoral indices on NSE, Nifty IT crashed sharply by 5.51 per cent, emerging as the worst-performing sector. The sharp fall in IT stocks comes amid global tech sector weakness, AI valuation repricing and concerns over AI-led disruption in SaaS stocks. Nifty Auto slipped by 0.12 per cent, Nifty Media declined by 1.31 per cent, Nifty Realty fell by 1.45 per cent and the Nifty Oil and Gas index was down by 1.19 per cent. Global markets Indian markets and Asian markets also traded mostly in the red on Friday. Japan's Nikkei index declined by 0.74 per cent to the 57,215 level. Singapore's Straits Times fell by 1.18 per cent to 4,957. Hong Kong's Hang Seng index dropped by 1.86 per cent to the 26,530 level. Gold prices While the stock market has been in the red for the last few days, the gold prices surged around 1 per cent to Rs 1,54,300 per 10 gm for 24 carat on Friday. On the other hand, silver prices rose 1.66 per cent to Rs 2,40,393 per kg. (With inputs from ANI)
13 February,2026 12:06 PM IST | Mumbai | mid-day online correspondentGold and silver prices, after experiencing a slight increase on Wednesday, yet again dipped marginally on Thursday. The major reason for the gold price drop is said to be the strengthening of the US dollar. As reported by news agency IANS, MCX gold April futures dipped 0.24 per cent to Rs 1,58,400 per 10 grams on an intraday basis. Meanwhile, MCX silver March futures declined 0.72 per cent to Rs 2,61,124 per kg. Gold prices in Mumbai Amid the highly volatile commodity market, the gold prices, after almost touching Rs. 1.6 lakh mark, have now dropped. The price of 24-carat gold in Mumbai on Thursday was recorded at Rs 1,58,400 for 10 grams. Furthermore, the 22-carat gold in Mumbai was priced at Rs 1,45,200 for 10 grams. While the gold price remains highly volatile, the demand for the yellow metal has been constant in tier-1 and tier-2 cities of India. Why did gold prices fall? The dollar index surged to 96.94 on Thursday from 96.83 in the previous session, due to strong jobs data from the US that suggested underlying economic health. The sudden surge played a direct role in the dipping of gold prices across the globe. Analysts said that US job growth unexpectedly accelerated in January and the unemployment rate fell to 4.3 per cent, signs of labour market stability that could give the Fed room to keep interest rates unchanged for some time while policymakers monitor inflation. Manav Modi, an analyst from Motilal Oswal, said, "The largest increase in payrolls in 13 months likely exaggerates the labour market's health, as revisions showed the economy added only 1,81,000 jobs in 2025 instead of the previously estimated 5,84,000," as cited by IANS. Nifty and Sensex open in red After a sudden surge in market indices over the last few days, selling pressure returned to the Indian stock markets on Thursday. Nifty and Sensex both opened in the red amid the absence of any fresh trigger, even as foreign investors continued to show positive interest in the markets. As reported by news agency ANI, the Nifty 50 index opened at 25,906.70, declining by 47.15 points or 0.18 per cent, whereas the BSE Sensex opened at 83,968.43, down by 265.21 points or 0.31 per cent. Chief Investment Strategist VK Vijayakumar, while speaking about the drop on Thursday, said, “Support to the market has to come from earnings growth, and there are sectors like automobiles, jewellery, hotels, segments of capital goods, telecom and financials that are doing well on the earnings front and have the potential to continue to do well. Even with occasional profit booking, the undertone of the market will remain resilient, mainly because there is a trend of FIIs turning buyers." Investors remain keen on US inflation data due on Friday for more monetary policy cues and on the UK GDP data. (With inputs from IANS)
12 February,2026 12:56 PM IST | Mumbai | mid-day online correspondentAfter a sudden surge in market indices over the last few days, selling pressure returned to the Indian stock markets on Thursday. Nifty and Sensex both opened in the red amid the absence of any fresh trigger, even as foreign investors continued to show positive interest in the markets. As reported by news agency ANI, the Nifty 50 index opened at 25,906.70, declining by 47.15 points or 0.18 per cent, whereas the BSE Sensex opened at 83,968.43, down by 265.21 points or 0.31 per cent. Chief Investment Strategist VK Vijayakumar, while speaking about the drop on Thursday, said, “Support to the market has to come from earnings growth, and there are sectors like automobiles, jewellery, hotels, segments of capital goods, telecom and financials that are doing well on the earnings front and have the potential to continue to do well. Even with occasional profit booking, the undertone of the market will remain resilient, mainly because there is a trend of FIIs turning buyers." Vijayakumar further added, “The fact that FIIs were buyers in six of the last seven trading sessions indicates that at least the trend of sustained selling is over. In the near term the market is likely to consolidate around the current levels with an upward bias,” as cited by ANI. Nifty Midcap declined by 0.45 per cent Apart from the Nifty 50 and Sensex, the Nifty 100 also slipped 0.33 per cent, while the Nifty Midcap 100 declined 0.45 per cent. The Nifty Smallcap 100 also fell 0.69 per cent, indicating weakness across segments, reported ANI. Among sectoral indices on the NSE, Nifty IT faced major pressure, falling more than 2 per cent. Nifty Auto declined 0.34 per cent, Nifty Metal lost 0.26 per cent, Nifty PSU Bank fell 0.54 per cent, and Nifty Realty dropped 0.66 per cent. Gold prices also decline Along with the market indices opening in red during the early hours of Thursday, gold prices also declined by 0.43 per cent to Rs 158,079 per 10 grams for 24-carat gold. Moreover, silver prices also fell by 0.77 per cent to Rs 261,000 per kilogram on Thursday. FIIs invested Rs 943.8 crore As per fund flow data for Wednesday, FIIs were net buyers at Rs 943.8 crore, while DIIs were net sellers at Rs 125.4 crore in the cash market, as per ANI. Global markets Along with the Indian stock market, other Asian markets on Thursday also experienced a downward trajectory. Hong Kong's Hang Seng index declined 0.92 per cent to 27,016. However, other major indices traded in the green. Japan's Nikkei 225 rose 0.14 per cent to 57,744, Singapore's Straits Times gained 0.61 per cent to 5,015, and South Korea's markets surged 2.70 per cent to 5,498. Taiwan's market remained closed for a holiday. In the US markets on Wednesday, the S&P 500 closed almost flat at 6,941. The Nasdaq declined marginally by 0.11 per cent to 23,076 at closing, while the Dow Jones index ended on a flat note with a marginal fall of 0.13 per cent to 50,121. (With inputs from ANI)
12 February,2026 11:15 AM IST | Mumbai | mid-day online correspondentUS tariff relief has calmed export sentiment, for now, in a volatile trade environment, according to rating agency ICRA. In a recent statement, the agency noted that the outlook on apparel exports has been restored to 'stable', while the outlook for the cut and polished diamonds sector remains negative. The rating agency highlighted that the downward reset in US tariffs to 18 percent from the elevated levels seen in 2025 represents a "relatively smooth landing for Indian exporters at a time when global trade dynamics remain fluid." This change follows a US-India joint statement that lowered reciprocal tariffs from 25 percent to 18 percent. Additionally, an additional ad valorem duty of 25 percent on Indian imports, which had been introduced in August 2025 in relation to Russian oil imports, has been eliminated by a US Presidential Executive Order. On the impact of previous trade barriers, Jitin Makkar, Senior Vice President and Group Head - Corporate Ratings, ICRA Limited, said in the release: "The sharp increase in US tariffs last year had been particularly debilitating for export-oriented companies in sectors such as textiles, cut and polished diamonds, and leather and leather products. Apparel exporters, for instance, saw their margins compress by nearly 200 basis points over the past couple of quarters as they were compelled to extend discounts to US buyers to retain volume share." ICRA's press release explained that the apparel sector's return to a stable outlook is rooted in a projected recovery. While revenues are still expected to contract by 3-5 percent in FY2026, they are now forecast to rebound by 8-11 percent in FY2027. This is a significant improvement from the previous forecast, made in September 2025, which projected deeper declines of 6-9 percent for FY2026 had the high tariffs persisted. Regarding the diamond industry, the press release detailed why the outlook remains negative despite the tariff relief. ICRA noted that the sector has been impacted by the rise of lab-grown diamonds, which have gained consumer acceptance and hurt the pricing of natural diamonds. While natural diamond exports are expected to expand by 6-8 percent in FY2027 due to the tariff removal and new "BIS labelling" intended to distinguish them from lab-grown alternatives, overall export values remain far below the USD 24 billion peak seen in FY2022. Looking at the broader trade landscape, Jitin Makkar added: "Against this backdrop, the lowering of US tariffs, as a prelude to the formal signing of the US-India trade agreement in due course, as also the anticipated implementation of the India-EU free trade agreement next year, besides other bilaterial trade pacts, augur well for a gradual strengthening of India's manufacturing export growth over the medium term." ICRA also noted that while the relief is meaningful in the near term, Indian corporations are likely to adopt geographical diversification as a long-term risk mitigation strategy to hedge against an "increasingly volatile and geopolitically-influenced trade environment." This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever.
11 February,2026 04:40 PM IST | New Delhi | ANIAfter a marginal bull run on Tuesday, the Indian stock market on Wednesday entered a consolidation phase. The recent rally driven by the India-US deal finally consolidated the indices, and the market opened flat. However, the indices did register modest gains amid returning foreign inflows. As reported by news agency ANI, the Nifty 50 index opened at 25,997.45, gaining 62.30 points, or 0.24 per cent. The BSE Sensex began the session at 84,339.15, up by 65.23 points, or 0.08 per cent. Market experts said that the broader trend remains supportive despite the range-bound movement. Ajay Bagga, a banking and market expert, while talking to the media on Wednesday, said, "Expect consolidation. The softening of US yields (4.14 per cent) is a gift for EMs like India, as it eases pressure on the rupee (currently near 90.58). However, the "AI threat" narrative in global financials could weigh on Indian IT and banking stocks if the sentiment sours globally, "as cited by ANI. Nifty 100 gains 0.25 per cent In the broader markets on the NSE, Nifty 100 gained 0.25 per cent, while Nifty Midcap 100 rose by 0.13 per cent and Nifty Smallcap 100 advanced 0.18 per cent. Sectoral indices opened in green While the market marginally opened flat, Nifty Auto surged 0.63 per cent, Nifty FMCG rose 0.39 per cent, and Nifty IT gained 0.19 per cent. Nifty Media moved up 0.16 per cent, Nifty Metal climbed 0.41 per cent, and Nifty Pharma rose 0.31 per cent. Nifty PSU Bank was up 0.14 per cent, while Nifty Realty edged higher by 0.08 per cent. Ponmudi R, CEO of Enrich Money, while stating about the market position on Wednesday, said, "Indian equity markets are expected to open on a flat to mildly positive note today. The broader fundamental backdrop remains supportive, with FII flows turning decisively positive this month, lending strength to overall sentiment.” Ponmudi further added, “Domestic institutional investors continue to accumulate on declines, providing a strong underlying cushion even during low-activity sessions. The rupee remains stable, adding macro comfort and limiting currency-driven volatility. In the absence of fresh triggers, the near-term trend is likely to remain range-bound, with consolidation around current levels," as cited by ANI. DII's heavy purchasing On the institutional front, domestic institutional investors (DIIs) made a net buying of Rs 1,174.21 crores on Tuesday, while foreign investors also recorded a positive net investment of Rs 69.45 crores, supporting market sentiment, reported ANI. Gold prices Whereas, on the commodities market, gold prices surged 0.83 per cent to Rs 1,58,097 per 10 gm for 24-karat gold. Silver prices also rose sharply by 2.40 per cent to Rs 2,59,078 per kg. Asian market opened in green Other Asian markets traded with positive sentiment on Wednesday. Japan's Nikkei 225 surged 2.23 per cent to 57650 points, Singapore's Straits Times gained 0.25 per cent to 4976, Hong Kong's Hang Seng index rose 0.24 per cent to 27249, Taiwan's weighted index rallied 1.67 per cent, and South Korea's Kospi index advanced 0.79 per cent. In contrast, US markets closed lower on Tuesday, with the S&P 500 declining 0.36 per cent to 6939.97 and the Nasdaq falling 0.58 per cent to 23104.37. (With inputs from ANI)
11 February,2026 01:12 PM IST | Mumbai | mid-day online correspondentGold prices on Wednesday surged 0.83 per cent to Rs 1,59,070 per 10 gm for 24-carat gold. Silver prices also rose sharply by 2.40 per cent to Rs 2,59,078 per kg. The combined assets under management (AUM) of gold and silver exchange‑traded funds (ETFs) touched record highs, crossing Rs 3 lakh crore in January, according to the data from the Association of Mutual Funds in India (AMFI). As reported by news agency IANS, the surge marked a near‑threefold rise in five months from Rs 1 lakh crore in August 2025, driven by record investor inflows despite sharp price volatility. Gold price in Mumbai The prices of gold in Mumbai have been highly volatile since the last few days; after a marginal hike on Tuesday, the 24-carat gold on Wednesday surged by Rs 870 making the effective price at Rs 1,59,070 for 10 grams. On the other hand, the price of 22-carat gold in Mumbai stood at Rs 1,45,840 for 10 grams. Gold ETFs While the price of 24-carat gold soared all the way up to Rs 1.78 lakh last month, January also saw all-time high inflows, with gold ETFs recording inflows of Rs 24,039 crore and silver ETFs attracting Rs 9,463 crore, according to AMFI. As reported by news agency IANS, the combined gold ETF inflows exceeded equity fund inflows of Rs 24,029 crore for the month. In December, combined inflows into gold and silver ETFs stood at Rs 15,609 crore, compared with Rs 28,055 crore into equity funds. Analysts said the shift reflected a temporary reallocation by investors toward defensive assets amid moderation in inflows to equity mutual fund inflows due to macroeconomic uncertainty. Stock market opens flat on Wednesday After a marginal bull run on Tuesday, the Indian stock market on Wednesday entered a consolidation phase. The recent rally driven by the India-US deal finally consolidated the indices, and the market opened flat. However, the indices did register modest gains amid returning foreign inflows. As reported by news agency ANI, the Nifty 50 index opened at 25,997.45, gaining 62.30 points, or 0.24 per cent. The BSE Sensex began the session at 84,339.15, up by 65.23 points, or 0.08 per cent. Market experts said that the broader trend remains supportive despite the range-bound movement. Ajay Bagga, a banking and market expert, while talking to the media on Wednesday, said, "Expect consolidation. The softening of US yields (4.14 per cent) is a gift for EMs like India, as it eases pressure on the rupee (currently near 90.58). However, the "AI threat" narrative in global financials could weigh on Indian IT and banking stocks if the sentiment sours globally, as cited by ANI. (With inputs from IANS)
11 February,2026 01:11 PM IST | Mumbai | mid-day online correspondentAmid the easing global uncertainties, gold and silver prices continue to dip moderately on Tuesday as well. The sudden drop in gold prices is due to a stronger dollar and profit booking, even as geopolitical uncertainties extended medium-term support to precious metals. As reported by news agency IANS, the MCX gold February futures on Wednesday dipped 0.33 per cent to Rs 1,57,550 per 10 grams on an intra-day basis. Whereas the MCX silver March futures declined 1.92 per cent to Rs 2,57,567 per kg. Gold prices in Mumbai While the sudden dip in prices brings a sigh of relief to the buyers, bulk investors and traders are now focusing on buying the gold. The price of 24-carat gold in Mumbai on Tuesday stood at Rs 1,58,060 for 10 grams; an increase of Rs 1,330 from Monday. On the other hand, the price of 22-carat gold in Mumbai was recorded at Rs 1,44,900 for 10 grams. Silver prices Earlier, silver prices dipped over 2 per cent to the day's low of Rs 2,57,100 per kg, and gold prices dipped 1.3 per cent to Rs 1,56,001 per 10 grams, before the precious metals rebounded slightly. As per IANS, the dollar index rose to 97.01 on Tuesday from 96.82 in the previous session, making greenback-backed bullion slightly expensive for overseas buyers. Impact of monetary policy on markets Markets are currently pricing in at least two rate cuts of 25 basis points this year, which is generally positive for bullion due to expectations of a more relaxed monetary policy. Despite indications of diplomatic progress, tensions between the US and Iran remain high, as Washington cautioned US-flagged ships to avoid Iranian seas, reported IANS. Furthermore, strong buying interest is visible in the USD 65–USD 70 support band for COMEX Silver, aligned with prior swing lows and long-term trend support, they added. The analyst, while highlighting the volatile gold prices, said, “Gold has support at Rs 1,56,600 and Rs 154,800 zones, while resistance is at Rs 1,59,100 and Rs 1,60,000. Silver has support at the Rs 2,55,500 and Rs 248,800 levels, while resistance is at Rs 2,68,000 and Rs 2,74,000," as cited by IANS. (With IANS inputs)
10 February,2026 12:39 PM IST | Mumbai | mid-day online correspondentThe Indian stock market on Tuesday witnessed a turnaround with a positive opening. The market indices following Monday's bullish behaviour opened on a high today as well. The major reason behind the bullish movement is said to be the return of foreign inflows to domestic markets and investor sentiment. As reported by news agency ANI, the Nifty 50 index on Tuesday opened at 25,922.65, registering a gain of 55.35 points, or 0.21 per cent, whereas the BSE Sensex opened at 84,210, up by 144.25 points, or 0.17 per cent. Market experts said that the positive opening on Tuesday was supported by renewed buying from foreign portfolio investors and strength across broader market indices. Ajay Bagga, banking and market expert, while speaking to the media on Tuesday, said, "The Indian stock futures are pointing to a positive start, which could see further consolidation as FPIs have turned net buyers in February. Broader Indian indices outperformed the mainboard indices, as per ANI. Bagga further added that expectations of stronger business activity after the US-India framework deal on trade helped several sectors rally. He also asserted, "Hopes of a strong boost in orders post the US-India framework deal on trade saw sectors like textiles, gems and jewellery, auto parts and the bankers to all Indians, the PSU banks rallying strongly," as per ANI. According to the data, fund flows in the cash market on Tuesday at NSE showed FII inflows of Rs 2,254.6 crore, while DII inflows stood at Rs 4.2 crore. In the broader market, gains were visible across indices. On the NSE, the Nifty 100 surged by 0.20 per cent, the Nifty Midcap 100 gained 0.20 per cent, and the Nifty Smallcap 100 jumped by 0.46 per cent, indicating strong participation beyond the frontline stocks. Mixed trends among sectors Sectorally, mixed trends were seen. While Nifty Auto, Nifty Pharma and Nifty PSU Bank gained 0.24 per cent, 0.5 per cent and 0.23 per cent, respectively, some sectors witnessed mild pressure, with FMCG on Tuesday down by 0.02 per cent, IT slipping 0.21 per cent and Metal easing by 0.02 per cent. Gold prices In the commodities market, gold prices continued to remain elevated at Rs 1,57,255 per 10 grams for 24 karat, while silver prices declined on Tuesday by 1.5 per cent to Rs 2,59,167 per kg. While commenting on gold prices, Bagga noted, "Gold and silver saw dip buying returning. Crypto also saw fresh buying and tentative recoveries, as per ANI. Global cues remained supportive. In the US markets, the S&P 500 surged by 0.47 per cent, while the Nasdaq gained 0.97 per cent on Monday. Another record was reported for the Dow Jones. Japanese stocks also remained strong, while US Big Tech stocks saw a dip in buying. (With inputs from ANI)
10 February,2026 12:12 PM IST | Mumbai | mid-day online correspondentIndia has announced tariff concessions and market access measures under its trade agreement with the United States, covering automobiles, agricultural products, industrial goods, digital trade and select consumer items. The government said the pact will significantly improve the competitiveness of Indian exports in the US market. Under the agreement, tariffs on Indian exports worth USD 30.94 billion will be reduced from 50 per cent to 18 per cent, while reciprocal tariffs on another USD 10.03 billion worth of exports will be completely eliminated. “This means a substantial share of Indian goods entering the US market will now face either sharply lower tariffs or duty-free access,” the government said, adding that this will improve price competitiveness for Indian exporters according to PTI. Automobiles, alcohol and sensitive sectors Sensitive sectors such as automobiles have been liberalised through quota-based access and duty reductions. However, the government clarified that no duty concessions have been granted on electric vehicles. Alcoholic beverages have been offered access through tariff reduction combined with minimum import price rules, in line with India’s approach in other free trade agreements. Precious metals and other sensitive industrial products are covered under quota-based tariff lowering, while medical devices will see long, staggered tariff reductions. Big gains for textiles and gems Textile exports will see tariffs cut from 50 per cent to 18 per cent, while silk will receive zero-duty access, opening opportunities in a USD 113 billion US market. The gems and jewellery sector will also benefit, with tariffs reduced to 18 per cent for products entering a USD 61 billion market. In addition, zero-duty access has been secured for diamonds, platinum and coins, covering a USD 29 billion market. Key beneficiaries include cut and polished diamonds, lab-grown diamonds, coloured gemstones, synthetic stones, and articles made of gold, silver and platinum. Agriculture: protection for sensitive Items India currently enjoys a USD 1.3 billion trade surplus in agricultural trade with the US. Under the agreement, USD 1.36 billion worth of Indian agricultural exports will face zero additional US duty. Beneficiary products include spices, tea, coffee, fruits, nuts, coconut products, cereals, bakery items, cocoa products, oilseeds, and processed foods such as fruit pulp, juices and jams. Market access has been carefully structured based on product sensitivity. Highly sensitive items including meat, poultry, dairy products, genetically modified foods, soyameal, maize and cereals remain fully protected. Some sensitive products will see partial tariff reductions, while others such as almonds, walnuts, pistachios and lentils will be allowed under tariff rate quotas, permitting limited quantities at reduced duties. Certain intermediate products used by India’s food processing industry will see phased tariff elimination over up to 10 years. Industrial goods: zero duty for key Indian exports The agreement provides zero additional duty access for industrial exports worth USD 38 billion. Indian products receiving duty-free access include gems and diamonds, platinum, clocks and watches, essential oils, inorganic chemicals, paper products, plastics, wood articles and natural rubber. Access for American industrial goods into India has been structured carefully through immediate cuts, phased reductions and quota-based entry, depending on product sensitivity. Digital trade framework India’s digitally delivered services exports stood at USD 0.28 trillion in 2024, growing at over 10 per cent year-on-year. India ranks fifth globally in digital services exports. The government said a structured digital trade framework with the US will reduce regulatory uncertainty, lower compliance costs and make cross-border digital services smoother and more predictable. (With PTI Inputs)
09 February,2026 08:33 PM IST | Mumbai | mid-day online correspondentADVERTISEMENT
-1770960650393_d.png "Representational image")
-1770805152109_d.png "US-India trade deal and EU pact expected to strengthen export growth as per ICRA. Representational Image")
-1770647037651_d.png "India-US deal reduces tariffs on 41 billion dollars of Indian exports. File Pic")