FX.co ★ Indian Stocks Extend Gains for 4th Session

The BSE Sensex advanced by 130 points, or 0.2%, reaching 85,837 in Monday's morning trading session. This marks the fourth consecutive session of gains, driven by strong GDP growth figures. India’s economy grew by 8.2% during the July to September quarter, surpassing the projected 7.3% and rising from 7.8% in the preceding quarter. Market sentiment was further buoyed by expectations of potential interest rate cuts from both the Reserve Bank of India (RBI) and the Federal Reserve later this month. Meanwhile, despite a slight downward revision in the final November figures for India's manufacturing sector growth, the sector remained robust, propelled by accelerated output expansion. The broader market index neared a record high, with nearly all sectors trading positively, particularly led by the automotive and banking industries. Additionally, small-cap and mid-cap stocks saw gains of 0.4% and 0.1%, respectively. Early leaders included Adani Ports (up 1.9%), Kotak Mahindra (up 1.7%), Tata Motors (up 1.4%), ICICI Bank (up 0.6%), and Hindustan Unilever (up 0.6%).