FX.co ★ India Stocks Close on Higher Note

India's BSE Sensex experienced a rise of approximately 0.5%, closing at 84,818 on Thursday, thereby ending a three-day losing streak. This rebound occurred as investors responded favorably to the US Federal Reserve's recent interest rate cut. However, market optimism was moderated by ongoing concerns about the Indian rupee's decline to a new record low, continued foreign capital outflows, and uncertainty surrounding a potential trade agreement between the US and India. Investors are also keenly anticipating the release of November's inflation data on Friday, which is expected to show an acceleration to 0.7%, still within the Reserve Bank of India's target range. The metal sector spearheaded the market gains, benefiting from stronger metal prices amidst a weakened US dollar. Additionally, sectors such as financials, automobiles, and technology demonstrated robust performance. Notably, Tata Steel led the individual stock surge, climbing 2.6% following its announcement of a $71 million agreement to acquire a majority stake in Thriveni Pellets, a subsidiary specializing in pellet-making and owned by Lloyds Metal and Energy. This acquisition marks a significant strategic investment for Tata Steel.