FX.co ★ India Shares Rise But Head for Losses Weekly

India's equity markets experienced a notable rise in early trading on Friday, with indices climbing by 614 points or 0.8% to reach 81,541, regaining some ground after the previous session's downturn. This uptick was attributed to sector-wide gains, particularly in technology stocks. The BSE Sensex saw a rebound from its lowest point in nearly two weeks, while the Nifty 50 advanced by 0.8% to exceed 24,800. Investor sentiment was bolstered by positive developments in US-China trade talks, as both nations committed to keeping the lines of communication open. Despite this optimism, gains were tempered by concerns over potential foreign fund outflows due to rising US Treasury yields and an uncertain US fiscal landscape. As the week draws to a close, the index is on track to record a 1.0% decline, after considerable gains the previous week were overshadowed by debt concerns and last week's downgrade of the US credit rating by Moody's. Notable stocks performing well included Infosys, rising 1.9%, Tech Mahindra up by 1.8%, ITC with a 1.8% increase, HCL Tech climbing 1.5%, and UltraTech Cement advancing 1.4%. Conversely, Sun Pharmaceutical faced a significant drop, plummeting 2.8% following a reported 19% decrease in consolidated net profit.