FX.co ★ Sensex Ends Subdued, Still Posts Weekly Gain

On Wednesday, India's BSE Sensex experienced a slight decline, closing at 80,242.2 points. This drop followed a period of market gains, leading investors to secure profits at elevated levels. Ongoing border tensions with Pakistan negatively impacted market sentiment. Meanwhile, investors remained attentive to the earnings season and awaited upcoming economic data from the United States. Bajaj Finserv experienced a notable decline of over 5% after its results for the March quarter fell short of investor expectations, despite reporting a 14% year-on-year increase in both net profit and revenue. Other notable companies facing declines included Tata Motors, Bajaj Finance, IndusInd Bank, State Bank of India, and UltraTech Cement. On the other hand, the pharmaceutical, oil & gas, FMCG, realty, and energy sectors witnessed gains. Throughout April, the Sensex saw a 3.7% rise, fueled by optimism surrounding a potential US-India trade agreement and continued foreign investment. Indian markets will be closed for a holiday on Thursday and will resume trading on Friday, May 2nd.