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of <h1>Indian equity markets surge as BSE Sensex rises 242 points amid hopes for favorable India-US trade deal</h1> Indian equity markets opened higher on Thursday with the BSE Sensex rising 242.83 points to 83,652.52 and NSE Nifty gaining 83.65 points to 25,537.05. The rally was driven by optimism over a potential India-US trade deal following the US President's announcement of reduced tariffs for Vietnam from 46% to 20%, raising hopes India's effective tariff rate may settle around 15-18%. Asian markets showed mixed performance with South Korea, Japan, and Shanghai trading higher while Hong Kong declined. Foreign institutional investors sold equities worth Rs 1,561.62 crore on Wednesday.
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