FX.co ★ Indian Stocks Close Firmly Lower

Indian stock markets experienced a notable decline on Monday, driven by the looming pressure of upcoming U.S. tariffs and a series of disappointing corporate earnings. The S&P BSE Sensex decreased by 0.7% to close at 80,890, while the NSE Nifty 50 saw a 0.6% drop, concluding at 24,680—both indices reaching their lowest points since June. Late last week, Indian officials voiced skepticism about the likelihood of a near-term trade agreement, expressing concerns that additional tariffs of 26% on Indian imports might be implemented as planned on Friday, prior to any potential resolution. As a result, losses were widespread across key sectors, notably affecting technology, automotive, and financial companies, which largely ended the day in negative territory. On the corporate earnings front, Kotak Mahindra Bank's stock plunged by 7.3% following a reported decrease in quarterly profits. Meanwhile, Tata Consultancy Services (TCS) experienced a nearly 2% decline in its share value after announcing plans to reduce its workforce by 2% over the next six months.