FX.co ★ Sensex Falls but Heads for Fourth Straight Weekly Gain

The BSE Sensex witnessed a decline of 259 points, equivalent to 0.3%, settling at 84,298 during morning trade on Friday. This drop occurred as traders opted to realize some profits after the benchmark index reached its highest point in nearly 13 months in the previous session. Anticipation surrounding the release of U.S. inflation data, expected later in the day, added to the caution, as it could heavily impact upcoming decisions by the Federal Reserve. Domestically, initial reports indicated a slowdown in India's private sector growth, hitting a five-month low due to a reduction in new orders. Meanwhile, foreign demand experienced its slowest growth rate since March. However, the losses were cushioned by positive developments on Wall Street overnight, driven by strong corporate earnings and an easing in US-China trade tensions ahead of the scheduled meeting between President Trump and Chinese President Xi Jinping next week. The declines were most pronounced in the consumer goods, healthcare, and banking sectors, with Hindustan Unilever (-3.3%), Kotak Mahindra Bank (-2.4%), and Axis Bank (-1.1%) being notable laggards. Despite the day's drop, the index is poised for a 0.4% gain over the week, marking its fourth consecutive weekly rise.