FX.co ★ India Stocks Extend Gains but Point to Weekly Decline

The BSE Sensex experienced a rise of 258 points, or 0.3%, reaching 85,076 in Friday morning trading, continuing the momentum from the prior session and mirroring positive outcomes on Wall Street. The Dow Jones and S&P 500 closed at record levels following the Federal Reserve's decision to cut interest rates. Simultaneously, the Nifty 50 increased by 0.3% to approach the 26,000 mark, while mid-cap stocks advanced by 0.6% and small-cap stocks rose by 0.5%. Investors are closely monitoring the release of November's inflation figures, which are anticipated later today. Market consensus suggests an anticipated acceleration in inflation, yet it remains within the Reserve Bank of India's target range, raising optimism for potential rate cuts in the forthcoming meeting. However, any gains were tempered by persistent uncertainties surrounding US trade discussions. Most sectors enjoyed positive trading, driven by gains in metals and followed by the automotive, banking, and financial services sectors. Leading performers included Larsen & Toubro (up 1.9%), Tata Steel (up 1.8%), IndusInd Bank (up 1.6%), Maruti Suzuki (up 1.4%), and UltraTech Cement (up 1.4%). Despite these advances, the index is projected to end the week with a 0.7% decline, following a period of stability in the previous week.