New Delhi, Feb. 3 -- The Indian stock market recorded one of its biggest rallies in the recent past during Tuesday's trading session on February 03, as the much-awaited trade deal between the US and India was finally sealed, significantly lowering tariffs on Indian goods.

The development boosted investor sentiment, triggering a broad-based buying spree across segments, with export-oriented sectors emerging as the biggest beneficiaries. Optimism also spilled over into capital market stocks, which had seen a sharp knockdown following the unexpected announcements in the Union Budget 2024.

The Nifty 50 surged 639 points, or 2.55%, to 25,727, marking one of its best intraday performances in recent history, while the S&P Sensex jumped 2,259 p...