India and the US have signed a trade deal, which has led to robust optimism among investors. The GIFT Nifty surged 783 points or 3% to trade at 25,898. Here are domestic as well as other key global cues to watch before the market opens that include Gold, Silver, crude oil prices, FII and DII data, business groups that most affect, sectoral performance, etc.
Earlier on Monday, the NSE Nifty 50 closed the session 263 points or 1.06% higher at 25,088, while the BSE Sensex rose 944 points or 1.17% to close at 81,666.
Key global and domestic cues to know on February 03, 2025
India-US trade deal
US President Donald Trump announced a trade deal with India, slashing the reciprocal tariffs to 18% from 25%.
“Out of friendship and respect for Prime Minister Modi and, as per his request, effective immediately, we agreed to a Trade Deal between the United States and India, whereby the United States will charge a reduced Reciprocal Tariff, lowering it from 25% to 18%,” said Trump in a social media post on Truth Social.
Deepak Agrawal, Chief Investment Officer of Debt at Kotak Mutual Fund, said that the reduction in tariff on Indian exports to the US is indeed a welcome move, expected to boost India’s economy. This development is likely to improve the country’s balance of payments (BOP) gap, strengthen the rupee, increase foreign exchange (FX) reserves and attract foreign institutional investors (FIIs) who had been waiting on the sidelines.
Additionally, Indian equities have become more attractive as their valuation premium has narrowed over the past year. This positive macroeconomic outlook is also expected to keep interest rates stable, he added.
Gold rate today
The rate for 24-carat gold today is Rs 1,42,890 per 10 grams, falling sharply for the second day in a row. The price of gold has declined by 3.43% from yesterday. The 24 kt gold rate today in Delhi is Rs 1,42,640 per 10 grams. The 18-carat gold price today in India is Rs 1,07,167.5. The 24-carat gold rate in Dubai today is Rs 1,49,590. On the MCX, the precious metal for the April delivery was trading at a price of Rs 1,43,000 per 10 grams, down 0.69%.
Silver rate today
In India, the silver rate fell by roughly 26% to Rs 2,92,280 per kilogram. The sharp correction was triggered by expectations of a more hawkish US Federal Reserve following Kevin Warsh’s nomination, which strengthened the dollar and reduced appetite for precious metals, said Ajay Kedia of Kedia Advisory. On MCX, the rate of Silver for the April contract was Rs 2,32,500, down 1.6%.
Asian Markets
The Asian markets on Tuesday morning opened on a higher note after the US and India struck a trade deal. Japan’s Nikkei 225 added 2.44%, while the Topix added 1.94%. South Korea’s Kospi jumped over 5%, triggering a buy signal. Meanwhile, the small-cap Kosdaq rose 2.32%. Hong Kong Hang Seng index futures were at 26,953, above the benchmark’s last close of 26,775.57.
US markets
The US benchmarks closed Monday’s trade on a higher note. The Dow Jones Industrial Average advanced 515.19 points, or 1.05%, closing at 49,407.66, while the S&P 500 was up 0.54% and settled at 6,976.44. The Nasdaq Composite also gained 0.56% and ended at 23,592.11.
FII, DII data
Foreign institutional investors (FII) were the net sellers of shares worth Rs 1,832.46 crore. On the other hand, the Domestic institutional investors (DII) were the net buyers of shares worth Rs 2,446.33 crore on January 30, 2025, according to the provisional data available on the NSE. Till December 2025, the FPIs have remained consistent sellers for 6 months of the Indian equity markets. And in January 2026, the FPIs were the net sellers of Rs 41,435.22 crore.
Crude oil
The crude oil prices traded on a higher note on Tuesday morning. WTI crude prices were trading at $62.31, up 0.28%, while Brent crude prices were trading at $66.36, a rise of 0.04%.
US dollar
The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, was trading 0.10% lower at 97.50. The index evaluates the strength or weakness of the US dollar in comparison to major currencies. The basket contains currencies such as the British Pound, Euro, Swedish Krona, Japanese Yen, Swiss Franc, etc. The rupee appreciated 0.52% to close at 91.51 to the dollar on February 02.
Top sectors in Monday’s trade
The Metal sector’s stocks rose the most in Monday’s trade, rising 4.6% in the market capitalisation. Further, Infrastructure stocks were followed by the Green Hydrogen sector stocks, which were further followed by the Tea/Coffee sector stocks. However, the Rubber sector stocks fell the most.
Best and worst performing business groups
The Vedanta Group’s market cap fell the most in Friday’s session, declining 11.34%. It was followed by the Muthoot Group. In the list of Vedanta Group stocks, Hindustan Zinc’s share dropped 12.12%. Apart from that, Jaipuria Group’s market capitalisation rose the most, increasing 4.13%.