Overview
- India’s Nifty 50 cleared 26,000 at the open and Sensex rose more than 700 points before closing up just 0.09% and 0.15% at 25,891.40 and 84,556.40 after late profit-taking.
- Mint and other outlets reported India and the U.S. are close to a pact that could cut U.S. tariffs on Indian exports to about 15–16% from roughly 50%, though no agreement has been announced.
- U.S. sanctions targeting Rosneft and Lukoil lifted crude, with Brent up roughly 3–5% to near $66, alongside a report of a planned U.S. Strategic Petroleum Reserve purchase supporting prices.
- Analysts cited profit-booking, higher oil and talk of possible delays in the trade discussions as reasons for the intraday reversal despite early strength.
- Tech sentiment softened after Reuters reported the White House is weighing curbs on software-powered exports to China, even as Indian IT shares outperformed with gains in Infosys and HCL Tech.