After opening the day higher, Indian benchmark indices gained as the session progressed and ended the day higher.Benchmark equity indices BSE Sensex and Nifty50 were trading higher on Tuesday, as investors kept a keen eye on tariff-related developments in the US.At the closing bell, the BSE Sensex stood higher by 1,397 points (up 1.8%).Meanwhile, the NSE Nifty closed higher by 374 points (up 1.6%).IndusInd Bank, Adani Ports, and L&Tare  among the top gainers today.Trent, Nestle, and Britannia on the other hand, were among the top losers today.The GIFT Nifty was trading at 23,772 up by 358 points at the time of writing.The BSE MidCap index ended 1.4% higher andthe  BSE SmallCap index ended 1.2% higher.Sectoral indices were trading mixed with stocks in the power sector, capital goods sector, and energy sector witnessing most buying speer.The rupee is trading at 87.1 against the US$.Gold prices for the latest contract on MCX are trading 0.2% higher at Rs 83,145 per 10 grams.Meanwhile, silver prices were trading 0.1% higher at Rs 94,345 per 1 kg.Here are the three key factors driving the market’s momentum:#1 Positive Global CuesPositive global sentiment spilt over into the domestic market, lifting investor confidence. Major Asian indices, including Japan’s Nikkei, Korea’s Kospi, and Hong Kong’s Hang Seng, jumped over 1% each following sudden changes in US trade policy.#2 Tariffs PauseThe tariff policies of US President Donald Trump have been a key factor weighing on global stock market sentiment of late. According to reports, the Trump administration has paused the proposed tariffs on Canada and Mexico, which appears to have lifted market sentiment.#3 RBI MPCThe Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) meeting is scheduled for February 5-7. Expectations are high that the central bank will start its rate reduction cycle by trimming benchmark rates by 25 bps.#4 Factory Output at 6-Month HighIndia’s manufacturing sector showed signs of recovery, with the HSBC India Manufacturing Purchasing Managers’ Index (PMI) rising to 57.7 in January from 56.4 in December.#5 Rupee RecoversThe rupee rebounded 13 paise from its all-time low closing level, trading at 86.98 against the US dollar. A decline in the US dollar index, which slipped from 109.88 to 108.74 following Trump’s tariff pause, also supported the currency.
 Asian Paints Q3 Profit Falls 23%In news from the paint sector, Asian Paints on February 4 reported a 23% drop in net profit for Q3FY25, with a net profit of Rs 11.28 billion (bn), compared to Rs 14.75 bn in the same quarter of the previous year.The company’s revenue also saw a decline of 6%, falling to Rs 85.49 bn from Rs 91.03 bn in Q3FY24.The paint industry faced continued challenges due to weak demand, particularly in urban centres.The coatings business in India saw a 6.6% decline, which included the industrial segment.The domestic decorative business showed a slight volume growth of 1.6%, but the overall standalone revenues dropped by 7.5%, mainly due to poor demand during the festive season.The industrial segment, however, grew by 3.8%, driven by the General Industrial and Refinish categories.On a positive note, the international business saw growth, with revenues increasing by 5% in INR terms and 17.1% in constant currency terms. The growth was mainly fueled by strong performance in the Middle East and recovering economic conditions in key Asian markets.J Kuma Infra Surges 5%Moving on to news from the infra sector, J Kumar Infraprojects shares surged by 5% following the company’s strong earnings performance for the December quarter. The company reported a notable increase in net profit and revenue, while maintaining steady margins.Net profit for Q3 grew by approximately 21% year-on-year, reaching Rs 9.9 bn, up from Rs 8.3 bn in the same quarter last year.Revenue saw a 22% rise, amounting to Rs 14.9 bn compared to Rs 12.2 bn in Q3 of the previous fiscal year.At the end of the December quarter, the company’s order book stood at Rs 205.3 bn, encompassing a wide range of projects. Metro projects (both elevated and underground) represent about 20% of the order book, while elevated corridors and flyovers make up 46%, roads and road tunnels contribute 21%, and other projects account for 13%. In Q3, J Kumar Infra was awarded new projects worth Rs 26.7 bn.Looking forward, the company targets an order book of Rs 250 bn by FY27. It also plans to improve its EBITDA margins to 16% over the next two years, up from the current 15%.
 Nifty FMCG Lags Amid Budget CheerIn a market dominated by gains, the Nifty FMCG index emerged as the only sectoral laggard after experiencing significant growth in the past week. The Union Budget’s relief measure, which makes income up to Rs 12.75 lakh tax-free, was aimed at easing the middle class’s tax burden and stimulating consumption.The markets initially responded positively to this move, with consumption-driven sectors seeing a surge. The FMCG index rose by four percent, while the Consumer Durables index also recorded sharp gains. However, as the markets processed the Budget’s impact, the enthusiasm for consumer stocks began to fade.By noon, the Nifty FMCG index had slipped nearly one percent intraday but managed to recover, trading at 57,338.55, a slight decline of -0.2%. United Breweries, Godrej Consumer Products, and ITC Hotels were among the top laggards, dropping by up to 3%.More By This Author:Sensex Today Trades Higher; Nifty Above 23,500Sensex Today Ends 319 Points Lower; Nifty Below 23,400Sensex Today Trades Lower; Nifty Below 23,300