FX.co ★ India Stocks Head for 2nd Straight Monthly Loss

The BSE Sensex experienced a decline of 403 points, or 0.5%, reaching 82,163 during Friday morning trading. This downturn reversed the gains observed over the previous three sessions, as traders exhibited caution ahead of the upcoming Union Budget announcement this weekend. Market sentiment was further dampened by ongoing foreign capital outflows and rising oil prices, which heightened concerns about domestic inflation, particularly since India relies heavily on oil imports. Most industry sectors saw losses, with the metals sector leading the decline, followed by technology, automotive, and banking stocks. Specifically, the metals sector dropped 4.0%, a reversal from the 8.5% gain over the prior three sessions, which had been driven by increased metal prices amid geopolitical tensions. Notable stock movements included Tata Steel's 3.1% fall, JSW Steel's 2.3% decline, HCL Technologies' 2.0% drop, Infosys down by 1.8%, and Tech Mahindra's decrease of 1.4%. For the month, the Sensex is on track for a 3.5% decrease, signaling its second straight monthly decline, primarily influenced by continuous foreign capital outflows.