US-India deal set to power India's stock benchmarks to best session in nine months

India's stock benchmarks Nifty 50 .NSEI and Sensex .BSESN jump 3%

US-India trade deal slashes US tariffs on Indian goods to 18% from 50% in exchange for New Delhi halting Russian oil purchases and lowering trade barriers

Benchmarks on track for their biggest daily gain in nine months

All 16 major sectors surge; small-caps .NIFSMCP100 and mid-caps .NIFMDCP100 gain 3.2% each

Benchmarks opened 5% higher in sharpest intraday rise in five years, before paring some of the gains

Deal removes key overhang on exports, provides visibility for several labour-intensive sectors and growth outlook, and also improves prospects of a reversal in foreign flows, says Anil Rego, founder and fund manager at Right Horizons PMS

Index heavyweight Reliance Industries RELI.NS jumps 4%, leading the advance in benchmarks

Components in export-oriented sectors such as auto ancillaries, textiles, apparels, seafood, engineering goods, speciality chemicals surge on the trade deal