In today’s session, from the shrimp pack, Avanti Feeds shares rallied 8% to their day’s high of Rs 807 apiece on the BSE, while Apex Frozen Foods rallied 5% to its day’s high of Rs 277 per share. Coastal Corporation also surged 5% to its high of Rs 43.20 per share. Waterbase shares gained 3% to Rs 42 per share.
As for Textile stocks, Gokadas Exports gained 6% to their day’s high of Rs 596 per share. Pearl Global Industries gained 3% to their high of Rs 1,480 per share on January 22. Weslspun Living also gained 8% to trade at Rs 126.50 per share.
The sentiment among these export-heavy stocks was boosted by renewed optimism around a potential India-U.S. trade deal after U.S. President Donald Trump struck an upbeat tone on bilateral ties during his visit to the World Economic Forum in Davos.
Speaking to Moneycontrol on the sidelines of the WEF, Trump praised Prime Minister Narendra Modi and expressed confidence in a favourable agreement, saying, “I have great respect for your Prime Minister. He’s a fantastic man and a friend of mine. We are going to have a good deal.” His remarks came even as the U.S. continues to impose tariffs of up to 50% on Indian goods, among the highest faced by India globally, and as a comprehensive trade pact remains elusive.
Despite the tariff overhang, investors also drew comfort from the consistent signals that negotiations are still alive. Earlier this month, newly appointed U.S. Ambassador to India Sergio Gor took charge and voiced strong support for the ongoing trade talks, saying both countries are firmly committed to reaching an agreement, comments that reinforced expectations of progress and supported risk appetite in Indian equities.
Also read: Rs 19,000 crore FII selloff: Banks, IT, FMCG worst hit. Metals only bright spotThe proposed pact, if concluded, could revive trade relations between Washington and New Delhi, which had cooled after Trump’s earlier decision to impose steep tariffs on Indian goods — 20% of which were penalty duties aimed at what he claimed was India’s funding of the war in Ukraine.
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