FX.co ★ India Stocks Set to Log 3rd Straight Weekly Rise

Indian equities surged by 865 points, or 1.1%, reaching 81,125 during Friday morning's trading session, following a lackluster performance the previous day. This uptick was fueled by optimism surrounding a prospective trade agreement between the United States and India. As traders resumed activity after a holiday break, the market benefited from profit-taking and a resurgence in buying interest, boosting overall sentiment. The BSE Sensex achieved its highest level since mid-December, paralleling overnight advancements on Wall Street prompted by robust technology sector earnings. Additionally, the market was buoyed by diminishing fears of a trade conflict between Washington and Beijing, with China expressing its readiness to commence trade discussions with the U.S. The inflow of foreign funds also contributed positively, pushing the Nifty 50 index up by 1.0% to exceed the 24,500 mark. The index appears poised for its third consecutive weekly gain, already up by 2.2%. The ascent was primarily driven by the auto and tech sectors, with significant contributions from Adani Ports, which saw a 4.8% increase following strong fourth-quarter consolidated profit results. Other prominent gainers included Maruti Suzuki, rising 2.7%, and IndusInd Bank, gaining 2.3%.