FX.co ★ India Stocks Flat in Morning Trade

In morning trading on Thursday, the BSE Sensex remained relatively stable at around 83,424, recovering slightly from Tuesday's decline and distancing itself from a three-week low. This steadiness was attributed to gains in the technology and automotive sectors, which helped mitigate downturns in the banking, financial services, and pharmaceutical sectors. Market participants were poised for the release of Q2 earnings from a number of companies later in the day, following the market's reopening after a public holiday. Investor sentiment was bolstered by the addition of four domestic firms to a prominent MSCI index. On the economic data front, the final India Services PMI received a slight upward revision. In the United States, Wall Street saw an overnight uptick, buoyed by private payroll data that exceeded expectations. Specifically, Paytm's shares rose by 3.9% after analysts deemed its core Q2 performance robust, despite a significant drop in consolidated net profit. Britannia's stock increased by 3.5% after the company reported a strong operational performance in its Q2 results. Conversely, Hindalco's shares fell by 6.5% following a 20% increase in capital expenditure guidance by its US subsidiary, Novelis.