FX.co ★ India Stocks Jump But Point to Weekly Decline

The BSE Sensex climbed 1,318 points, or 1.8%, reaching 75,165 during Friday's morning session. This increase marked a recovery from losses incurred in the previous session, as trading resumed following the Mahavir Jayanti holiday. Market participants reacted positively to a 90-day suspension of an additional 26% tariff on India. However, investors also engaged in short-term profit-taking in anticipation of another market closure on Monday for the Ambedkar Jayanti holiday. Sentiment was further bolstered by March inflation forecasts, which are expected to come in at 3.6%—the lowest since last July—fuelling optimism that the Reserve Bank of India (RBI) might implement additional interest rate cuts. Despite these gains, market advances were constrained by escalating tensions between the US and China, as the US increased tariffs on Chinese imports to 145%. All market sectors showed positive performance, especially metals, with Tata Steel rising by 5.3%, JSW Steel by 4.9%, and Tata Motors by 3.9%. Over the course of the week, the index appears set for a decline of approximately 0.3%, representing the second consecutive weekly loss amid global trade war concerns.