GIFT Nifty surged by nearly 800 points before paring some gains, indicating a widespread relief-driven rally across markets. The rise followed remarks by US President Donald Trump that Washington would lower reciprocal tariffs on Indian goods to 18%.

India and the US have clinched a major trade pact that slashes tariffs to 18%, ending a year-long dispute marked by steep duties and fierce negotiations. The agreement followed months of diplomatic engagement,

Stock Market LIVE: US President Donald Trump on Monday announced the India-US trade agreement, waiving the reciprocal 25% tariffs imposed on India for purchasing crude oil from Russia and cutting tariffs on Indian goods from 25% to 18%.