Shares of textile and shrimp stocks surged on October 29 following a positive hint from US President Donald Trump regarding a potential trade deal with India. During the APEC CEO Summit in South Korea, Trump expressed his respect for Indian Prime Minister Narendra Modi and indicated that negotiations for a trade agreement were forthcoming. This news significantly boosted investor sentiment, as a trade deal would likely lead to a reduction in tariffs on Indian exports to the United States, particularly benefiting sectors heavily reliant on exports.

The anticipation of a trade deal comes in the wake of the Trump administration's previous increase of tariffs on Indian imports to 50 percent, which was prompted by India's ongoing purchase of Russian oil. The textile and shrimp industries, both crucial to India's export economy, had faced declining share prices due to these tariffs. With renewed optimism surrounding the trade discussions, companies in these sectors have seen substantial rebounds in their stock values, as they derive a considerable portion of their revenue from the US market.

Among the notable gainers in the shrimp sector, Apex Frozen Foods shares rose over 4 percent, trading at approximately Rs 248. Other companies such as Coastal Corporation and Avanti Feeds also reported gains, with Avanti recovering from earlier losses. In the textile sector, Gokaldas Exports and Pearl Global Industries both experienced a 4 percent increase, while Raymond Lifestyle shares rose over 2 percent. Overall, the market's response indicates a strong investor belief in the potential benefits of a trade agreement, which could significantly enhance the profitability of these export-driven industries.