Indian chemical manufacturers rise on India-US trade deal

Shares of India's chemical manufacturers rise between 5.5% and 13.9%

U.S. President Donald Trump on Monday announced a trade deal with India that slashes U.S. tariffs on Indian goods to 18% from 50% in exchange of India halting Russian oil purchases and lowering trade barriers

ICICI Direct Research says although details are still awaited, it believes the reduction is likely to provide a level-playing ground to India with other competitors such as China, South Korea, Japan, EU, Vietnam, Malaysia, Indonesia, and the Philippines

India's chemical exports to the U.S. stood at ~$6 billion, accounting for 18% of the overall chemical exports - brokerage

Aarti Industries ARTI.NS leads gains among the pack with a 13.9% jump, followed by Gujarat Fluorochemicals GUJL.NS, up 8.1%, and Navin Fluorine International NAFL.NS, up 7.2%