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INDIA STOCKS-Indian benchmarks open higher on hopes of a US trade deal

ReutersMay 2, 2025 3:52 AM

- India's equity benchmarks opened higher on Friday, with sentiment receiving a boost after U.S. President Donald Trump said he had a "potential" trade deal with New Delhi.

The Nifty 50 .NSEI rose 0.38% to 24,428 and the BSE Sensex .BSESN gained 0.53% to 80,659.44 as of 9:19 a.m. IST.

Ten of the 13 major sectors advanced at the open. The broader, more domestically focussed small-caps .NIFSMCP100 and mid-caps .NIFMDCP100 rose 0.3% each.

Other Asian markets were higher. U.S. equities rose overnight as solid earnings from big tech overpowered data showing contraction in the U.S. economy. MKTS/GLOB

Trump said on Wednesday he had "potential" trade deals with India, South Korea and Japan, aiding risk sentiment. U.S. Secretary of State Marco Rubio said China wanted to begin trade negotiations with the U.S.

"The Trump administration has softened its stance on tariffs a bit, while expressing willingness to negotiate with China, improving overall risk sentiment," said Abhishek Goenka, founder and chief executive officer of India Forex Asset Management.

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