FX.co ★ India Stocks Trade Slightly Higher

On Thursday morning, Indian stocks saw an upswing as the market gained 221 points, or 0.3%, reaching 81,533.1. This positive trajectory was reflected by similar gains in Asian markets and U.S. futures, following federal court decisions blocking the proposed tariffs dubbed "Liberation Day" by President Trump. The BSE Sensex effectively rebounded from the declines of the previous two trading sessions, led by robust performance in the technology, metals, and pharmaceuticals sectors. Contributing to the positive market sentiment were factors such as a favorable monsoon forecast, a minor inflationary outlook, and prospects of stronger GDP growth in the fourth quarter, with the economy anticipated to grow at a 6.7% rate, marking the highest growth within a year. Economic data indicated a 2.7% year-on-year increase in India's industrial output for April, exceeding the market's predicted 1% rise, although it marked a decrease from March’s 3.9% growth, impacted largely by slower manufacturing growth. The Nifty 50 index also rose by 0.3%, surpassing 24,800, with notable gains from companies like JSW Steel (up 1.5%), Infosys (up 1.1%), Tata Motors (up 1.1%), IndusInd Bank (up 1.0%), and Sun Pharmaceutical Industries (up 0.8%).