While Indian markets are closed today, global markets, particularly the Chinese and US markets are up on optimism that the US and China are close to a trade deal. The US has reportedly agreed to waive at least $200 billion of the $250 billion in tariffs that it has imposed on China, with China in turn agreeing to improve access to its domestic markets, particularly for agricultural products. 

However, it doesn't look like neither side has yet acheived what it would have liked, with the access that US wanted to China markets, and changes in intellectual property rules, still sticking points. China wants all the recent tariffs imposed by the US waived, rather than a partial removal. Trade representatives said conversations are ongoing, as the deal nears completion.