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The Indian stock markets opened higher this morning with Nifty jumping 750 points and Sensex opening 2,400 points higher hours after the much-awaited India-US trade agreement in which Washington agreed to slash its tariff on Indian goods to 18 per cent in exchange for New Delhi halting Russian oil purchases.

US President Donald Trump on Monday in a post in his social media account Truth Social -- announced a trade deal with India that slashes US tariffs on Indian goods to 18 per cent from 50 per cent in exchange of India halting Russian oil purchases and lowering trade barriers.

His post was followed by one from Prime Minister Narendra Modi, who conveyed his "Big thanks to President Trump on behalf of the 1.4 billion people of India for this wonderful announcement".

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