India’s BSE Sensex concluded Monday’s session with a decline of approximately 0.4%, closing at 84,901. The index traded nearly flat throughout the day but experienced a downturn in the final minutes as traders exercised caution, anticipating further clarity on the potential trade agreement between India and the United States. Despite this cautious atmosphere, there remained a touch of optimism due to renewed speculation regarding a possible Federal Reserve rate cut in December, coupled with a generally positive domestic economic outlook.
Market participants turned their attention to the upcoming release of the GDP data for the September quarter later this week, with analysts and financial institutions forecasting strong performance. While most major sectors faced widespread declines, selective investments in IT stocks helped cushion the losses. Among the largest decliners were Bharat Electronics, dropping by 3.1%, Mahindra & Mahindra by 1.9%, Tata Steel by 1.4%, Tata Motors Passenger Vehicles by 1.4%, UltraTech Cement by 1.2%, and Bajaj Finserv by 1.1%. In contrast, Tech Mahindra and Infosys emerged as notable gainers, with increases of 2.4% and 0.2%, respectively.
