textile stocks surged up to 20%

These stocks, which had been buzzing lately, once again caught investors' attention on Wednesday, May 7, as a fresh wave of optimism emerged from India and the United Kingdom officially signing a landmark Free Trade Agreement (FTA). This development lifted market sentiment, with hopes that the Indian textile sector could be one of the major beneficiaries of the pact. Amid this optimism, major textile companies saw their stocks soar in trade, with SP Apparels emerging as the top performer, hitting the 20% upper circuit limit at ₹874 apiece. Other textile stocks, such as Gokaldas Exports, Welspun Living, Vardhman Textiles, Nitin Spinners, Arvind, Himatsingka Seide, and Ambika Cotton Mills, surged up to 16% in early trade.