FX.co ★ Indian Stocks Close Higher

Indian stocks experienced a solid uptick on Monday, with markets evaluating a series of corporate updates amidst ongoing assessments of the Indian trade outlook given the uncertainties related to US tariffs. This resulted in a 0.5% increase for both the S&P BSE Sensex and the Nifty 50, helping to recover some losses from the previous two sessions. The banking sector was a standout performer, propelled by HDFC Bank and ICICI Bank, which both posted stronger-than-anticipated earnings for the June quarter, leading to a rise in their stock prices by over 2%. Similarly, UltraTech Cement ended the day on a high note following a favorable earnings report. Conversely, Reliance Industries saw a decline of 3.2% post-earnings release. Despite surpassing earnings and revenue expectations, concerns were raised by analysts regarding potential risks to its oil-to-chemicals and retail divisions. Additionally, the company's energy sector faced pressure amid threats from US President Trump to impose tariffs on companies involved in re-exporting Russian goods as a means to circumvent sanctions.