Organization: The market should not expect the US-India trade agreement to bring miracles.

Apurva Sheth, Director of Market Outlook and Research at Samco Securities, wrote in a report that the market should not expect the US-India trade deal to work miracles. The US is lowering tariffs on Indian goods to 18%, which could provide a significant boost to the struggling sentiment as it will allow Indian products to compete on US soil. However, he added that exports to the US only account for a small portion of India's $4 trillion GDP, so any related boost is expected to be short-lived. Following this news, the Indian benchmark stock index Sensex surged at the opening, but Sheth believes the market needs to "build new long positions" to sustain this momentum.