Stock Markets Rise as Trump Hints at 'Wonderful' India Trade Deals

By siliconindia  |  Friday, 14 February 2025, 10:41:59 AM IST

Stock Markets Rise as Trump Hints at 'Wonderful' India Trade Deals
The Indian equity market started the day on a positive note on Friday amid hope over trade talks between India and the US. Prime Minister Narendra Modi and Donald Trump, former US President, announced intentions to seal 'some wonderful trade deals', which encouraged investors.
The BSE Sensex shot up 279.95 points (0.37%) to 76,418.92, while the NSE Nifty increased by 84 points (0.36%) to 23,115.40. The Nifty Bank index rose 196.75 points (0.40%) to 49,556.60. The Nifty Midcap 100 gained 0.26% to 51,014.20, while the Nifty Smallcap 100 fell 0.13% to 15,953.60.
Market experts are cautiously optimistic. Hrishikesh Yedve of Asit C. Mehta Investment Intermediates Ltd noted that the Nifty 50 had created a red candle on the daily chart, indicating selling pressure at higher levels. He indicated 23,270–23,300 as a resistance level, while 22,780 would be a key support level. He suggested traders follow a buy-on-dips strategy as long as Nifty remains above 22,780.
Of the Sensex stocks, Tata Steel, ICICI Bank, M&M, HCL Tech, Tata Motors, Bajaj Finserv, IndusInd Bank, Axis Bank, Infosys, and Bajaj Finance were the big gainers. On the other hand, Sun Pharma, UltraTech Cement, Asian Paints, HDFC Bank, and Kotak Mahindra Bank were the key losers.
Global markets were robust, with US indices finishing in the green during the previous session. The Dow Jones gained 0.77% to 44,711.43, the S&P 500 rose 1.04% to 6,115.07, and the Nasdaq rose 1.50% to 19,945.64. Asian markets were mixed, with Jakarta, China, Seoul, Bangkok, and Hong Kong in the green, while Japan was in the red.
Institutional investors were active, Foreign Institutional Investors (FIIs) selling shares worth Rs 2,789.91 crore for the seventh straight session on February 13. Domestic Institutional Investors (DIIs), however, offset the same by buying stocks worth Rs 2,934.50 crore.
Market observers will carefully watch global cues, crude oil prices, and institutional inflows to decide further market movements, opined Aakash Shah of Choice Broking.

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