Stock market midday: Sensex, Nifty extend rally as India-US trade deal spurs export stocks, textile, leather, seafood, specialty chemicals get big boost, adani stocks soar Feb 3 2026

Equity benchmarks continued its upward rally in the afternoon session on Tuesday after India and the US struck a trade deal that will see Washington cut reciprocal tariffs on Indian goods to 18 per cent from 25 per cent. US President Donald Trump announced the agreement on Monday after a phone call with Prime Minister Narendra Modi. Market participants said the tariff reduction removes a major hurdle for exporters who had been grappling with steep duties in recent months. The 30-share BSE Sensex jumped nearly 4205 points to 85,871.73 in early trade against the previous close of 81,666.46, while the NSE Nifty 50 climbed 1,253 points to an intraday high 26,341.20 from the previous close of 25,088.40, led by sharp buying in export-oriented stocks. Sensex traded higher by 2289.86 points or 2.80 per cent at 83,956.32, and Nifty 50 climbed 698.90 points or 2.79 per cent to 25,787.30 at 12.57 pm. Bank Nifty also jumped over 3,145 points in early trade to a high of 61,764.85. Both midcap and smallcap indices soared nearly 3 per cent each. All sectoral indices traded in the positive territory, led by realty, cgemicals, consumer durables and pharma. Adani stocks lead Nifty 50 gainers Among the Nifty 50 constituents, Adani Enterprises, Jio Financial, Adani Ports, Bajaj Finance, IndiGo and Sun Pharma lead the gainers with 5-12 per cent rally, while Nestle India, Coal India and ONGC slipped to trade in red. Market breadth was strongly positive, with 3,186 stocks traded on the National Stock Exchange at the time of writing, of which 2,696 advanced, while only 416 declined and 74 remained unchanged. The rally was further reflected in momentum indicators, as 56 stocks touched fresh 52-week highs compared with 48 hitting new lows. Buying interest was evident in many counters, with as many as 170 stocks locked in their upper circuits, whereas only 33 stocks were in the lower circuit. Under the midcap segment, Waaree Energies, Premier Energies, Godrej Properties, Tube Investments, Dixon Tech and Bharat Forge zoomed 7-13 per cent, while PB Fintech dragged 5 per cent. Among the smallcap segment, PCBL, Aarti Industries, Trident, IGIL, Jyoti CNC and Angel One rallied 9-18 per cent, while Aegis Vopak, Narayana Hrudayala and Signature Global declined 1-4 per cent. Textile, leather, seafood, specialty chemicals get big boost Textile and leather companies were among the biggest gainers, with K P R Mill, Garware Technical Fibres and Avanti Feeds hitting their upper circuits. Welspun Living, Vardhman Textiles, Trident and Raymond Lifestyle also posted strong gains. Footwear and leather stocks such as Bhartiya International, Mayur Uniquoters, Bata India and Metro Brands advanced sharply, while seafood exporters including Avanti Feeds and Apex Frozen Foods soared as optimism grew over a revival in shipments to the US. Specialty chemical makers such as Aarti Industries, Atul, Neogen Chemicals and Gujarat Fluorochemicals also rallied, with several stocks touching 52-week highs. Published on February 3, 2026