Indian Shares Rebound on Trade Deal Hopes and Easing Oil Prices

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Indian shares rebounded sharply on Wednesday, with the benchmark BSE Sensex climbing 790.54 points, or 1.04 percent, to 76,991.22, driven by easing geopolitical tensions and optimism over a potential U.S.-India trade deal. The NSE Nifty index surged 197.55 points, or 0.83 percent, to 24,021.65, led by financials and technology stocks. Reports indicated the two nations are in final stages of negotiating a bilateral trade agreement expected to be signed before July 24, aiming to raise bilateral trade to $500 billion by 2030. Sentiment was also supported by Reserve Bank of India Governor Sanjay Malhotra's comment that discussion on interest rate hikes was premature, while global oil prices fell to a four-month low as tankers began moving through the Strait of Hormuz. Top gainers included airline Indigo, up 4.7 percent, and retailer Trent, up 3.6 percent, with Adani Ports, TCS, HDFC Bank, Infosys, ICICI Bank, Bajaj Finance, and Tech Mahindra rising between 2 and 3 percent.