FX.co ★ Indian Stocks Drop for 3rd Session

Indian equities concluded Thursday's trading session with marginal declines, aligning with global trends as geopolitical tensions coupled with cautious cues from the Federal Reserve dampened investor sentiment. The BSE Sensex and NSE Nifty 50 each fell by 0.1%, marking their third consecutive day of losses. As anticipated, the Federal Reserve maintained interest rates during its June meeting, yet adopted a slightly hawkish stance by indicating that tariffs could exert inflationary pressure on the U.S. economy. This outlook adversely affected Mumbai-based technology firms heavily reliant on U.S. clientele, resulting in losses for Tech Mahindra, HCL Tech, Infosys, and TCS. Additionally, other sectors saw declines due to rising oil prices driven by the Israel-Iran conflict, threatening India's progress in reducing inflation.