FX.co ★ Sensex Extends Losses but Set for Monthly Gain

Indian equities experienced a downturn, falling by 274 points or 0.3% to 80,885 during the Friday morning session, marking the sixth consecutive day of losses and reaching their lowest level in over two weeks. The decline can be attributed to renewed apprehensions concerning US trade policy following President Donald Trump's announcement of a 100% tariff on branded pharmaceuticals and a 25% levy on heavy-duty trucks. All sectors faced downward pressure, with pharmaceuticals leading the losses, seeing a 1.4% drop, highlighted by a 2.4% slump in Sun Pharmaceuticals. Investor caution was palpable ahead of the Reserve Bank of India's upcoming monetary policy meeting, amid widespread anticipation that the central bank will maintain the benchmark interest rate at 5.5%. In addition, significant declines were observed in shares of Infosys (-1.6%), Asian Paints (-1.4%), Tech Mahindra (-1.3%), and HCL Technologies (-1.2%). Nonetheless, despite these recent setbacks, the index is poised for a 1.3% gain for the month, marking the first monthly increase in three months, buoyed by optimism regarding GST reforms.