The shares of textile and shrimp stocks sharply surged on October 29 after US President Donald Trump hinted at having a trade deal with India soon.

The latest comments by the American President boosted investor sentiment as it would likely result in reduction in tariffs levied on Indian exports to the US, benefitting the export-oriented sectors significantly.

What Trump said?

US President Trump on Wednesday said that he holds great respect for Indian Prime Minister Narendra Modi. Speaking at the APEC CEO Summit in South Korea, he added that he is going to "do a trade deal with India".

Earlier during his speech, Trump spoke about his talks with India's Prime Minister Narendra Modi on the conflict with Pakistan. He described PM Modi as the "nicest looking guy" and "like a father".

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