Indian financial stock markets rose sharply in trading on Tuesday after the country signed a trade deal with the United States (US).
The deal saw US tariffs on Indian goods reduced from 50% to 18%.
Investors generally saw the talks as a boost to stocks, bonds and the rupee.
India's benchmark Nifty 50 stock index jumped nearly 5%, up about 100 points from its high in January.
Meanwhile, the rupee rose more than 1% to 90.40 per dollar in early trade.
However, the yield on the country's benchmark 10-year bond fell to 6.72%, down 5 basis points.
The Nifty's surge puts it on track to record its best daily gain in five years, while the rupee could hit its highest since November 2022.
President Donald Trump announced the deal on his social media account after a phone call with Indian Prime Minister Narendra Modi.
He also said India had agreed to stop buying Russian oil and reduce trade barriers against US exports.
Indian stock markets and the rupee had suffered their worst losses since Washington imposed tariffs in late August last year, making it one of the worst-performing emerging market assets in 2025.
The success of the talks is expected to be a major catalyst to end the ongoing economic slowdown, and to re-engage foreign investors in Indian assets.
