FX.co ★ Sensex Slips for Third Straight Session

The BSE Sensex experienced a decline of 133 points, equivalent to a 0.2% drop, settling at 81,338 in early trading this Monday. This marks the third session in a row where the market has seen a downturn. This latest decrease can be attributed to Kotak Mahindra Bank's underwhelming performance in their first quarter results, coupled with ongoing uncertainties surrounding US–India trade discussions. Kotak Mahindra Bank's shares took a significant hit, falling 6.3%, following earnings that fell short of market expectations. Additionally, investors are maintaining a cautious stance in light of the US Federal Reserve's upcoming monetary policy decision and the anticipated key US employment data set to be released later this week. Market participants are also eagerly awaiting Q1 earnings announcements from approximately 20 companies scheduled for later today, which include Adani Green, Bharat Electronics, and Nippon Life. On a positive note, an uptick in US stock futures, driven by new trade agreements between the US and EU, provided a limiting factor to the losses. The primary sectors affecting the index were banking, technology, and metals, with significant declines observed in companies such as TCS, which dropped 1.2%, Bharti Airtel with a 0.7% decrease, and IndusInd Bank also falling by 0.7%.