FX.co ★ India Stocks Snap Three-Session Rally

The BSE Sensex experienced a reduction of 497 points, equating to a 0.6% decline, settling at 83,321 during Thursday's morning trading session. Similarly, the Nifty 50 dropped by 0.6%, falling below the 25,650 mark as investors engaged in profit-taking following a three-day upward trend. The broader market mirrored the downtrend seen across Asian counterparts, which arose after a predominantly negative closure on Wall Street, largely driven by a persistent sell-off in the tech sector and disappointing US employment data for January. Despite the pressures, previous optimism resulting from the US–India trade agreement earlier this week, alongside encouraging results from the Q3 earnings season, served to cushion the downturn to some extent. Nonetheless, the tech sector recorded a marginal 0.1% decline after a steep 6% fall in the prior session. Most sectors reflected negative performances, notably metals, autos, banking, healthcare, pharmaceuticals, and financial services. Metal stocks suffered a significant dip of 2.34%, heavily impacted by Tata Steel's 0.6% and JSW Steel's 0.5% declines. Additional laggards included Tata Motors (-2.0%), Asian Paints (-1.8%), IndusInd Bank (-1.5%), Titan (-1.3%), and Axis Bank (-1.2%).