FX.co ★ India Shares Snap 3-Day Losing Streak

The BSE Sensex experienced a notable increase of 722 points, equating to a 0.9% rise, reaching 81,915 in early trading on Wednesday. This gain marks the end of a three-session decline, with all sectors displaying upward momentum, particularly led by the technology, banking, and consumer durables sectors. In parallel, metal stocks witnessed a moderate rise following the People's Bank of China's decision to reduce interest rates on Tuesday, aimed at bolstering economic growth. Market participants are now focused on the upcoming preliminary PMI figures for May, scheduled for release on Thursday, in light of limited new market drivers after last month's record of the private sector's most rapid expansion in eight months. However, the gains were somewhat constrained by a drop in US futures, attributed to a slowdown in the tech sector rally on Wall Street the previous night, coupled with renewed fears of foreign capital outflows. On a similar note, the Nifty 50 index rose by 0.9%, surpassing the 24,900 mark, driven by significant advances in shares of Sun Pharmaceutical (1.9%), Mahindra & Mahindra (1.4%), HDFC Bank (1.4%), Tata Motors (1.2%), and Nestle India (1.2%).