Bulls return on trade deal hopes, but caution the watchword

Mumbai: Bulls made a smart comeback to the Indian markets on Friday, with benchmark indices climbing nearly 2% with some help from short covering and selective buying. Alongside, fear gauge India Vix cooled by 6% to 20.11, after spiking 66% on Monday. The upturn came on the back of rising hopes of a bilateral trade agreement between India and the US after the latter paused reciprocal tariffs for three months on all its trading partners, excluding China. Significantly, bears didn't close out a significant number of their bearish positions, underscoring the uncertainty in the global economy and financial markets. Indian…