Indian Markets Gain on India-US Trade Deal; IT Stocks Decline Amid AI Concerns

Indian equity markets showed modest gains over consecutive sessions, supported by the India-US trade deal that reduced tariffs on Indian exports, boosting investor confidence and select sectors like consumer durables, energy, and textiles. However, IT stocks faced sharp declines due to concerns over AI-driven disruptions and global tech selloffs. Broader indices outperformed frontline ones, with midcap and smallcap stocks showing resilience amid cautious trading ahead of the Reserve Bank of India's monetary policy meeting. Corporate earnings were mixed, with some companies reporting profit growth while others faced higher provisions or subdued demand.