FX.co ★ Sensex Ends at Over 4-Month High

On Friday, India's BSE Sensex experienced an initial surge before slightly paring gains, ultimately closing approximately 0.3% higher at 80,502. This marked the highest closing level since December 17, 2024. The positive performance was largely fueled by optimism surrounding the easing of global trade tensions and the potential for a US-India trade agreement. The market also benefited from continued foreign investments and record-high GST collections recorded in April. However, the gains were somewhat tempered by ongoing border tensions with Pakistan and concerns related to specific sectors, particularly after the Supreme Court rejected the resolution plan for Bhushan Power & Steel. Within the stock market, Adani Ports stood out, climbing 4.1% following a 50% increase in net profit for the March quarter and releasing an optimistic annual revenue growth projection. Other significant gains were observed in banking, automotive, and technology sectors. Conversely, Nestle India experienced the largest decline, falling by 2%. Over the course of the week, the Sensex advanced approximately 1.6%.