FX.co ★ India Shares Extend Gains

India's stock market witnessed an uptick of 621 points, equivalent to a 0.8% rise, reaching a level of 82,343 early on Monday. This upward movement marks the second consecutive session of gains, spurred by a rally in US futures following President Trump's announcement of extending the deadline for introducing a 50% tariff on the EU. The BSE Sensex achieved its highest point in over a week, with significant contributions from the auto and banking sectors. Domestically, market participants are turning their attention to the forthcoming release of Q1 GDP figures, anticipated later this week. A Reuters survey predicts a 6.7% growth for India's economy in the first quarter, suggesting the fastest growth rate in a year. Nevertheless, investors are keeping a close eye on the speeches from various Federal Reserve officials and the PCE price indices release this week, which will provide further clarity on the trajectory of US interest rates. The Nifty 50 index also saw a rise, gaining 0.7% to surpass the 25,000 threshold. Notable performers included Mahindra & Mahindra, which rose by 1.8%, Power Grid at 1.6%, ICICI Bank at 1.1%, and Tata Motors at 1.1%. Additionally, NTPC and JSW Steel both experienced a 1% gain, driven by reports of a rise in net profits.