FX.co ★ India Stocks Muted in Early Deals

Indian equities remained relatively stable during the morning trading hours on Tuesday, with the BSE Sensex maintaining a position around 82,472. This follows four successive sessions of gains, as traders exercised caution while awaiting further information from the ongoing US-China trade discussions. The Sensex lingered near its peak since mid-May amidst a backdrop of market volatility. Investor prudence was also influenced by the imminent release of May's consumer price index data, anticipated later in the week. Analysts predict India's inflation rate could potentially decrease to 3%, marking the lowest point since April 2019, attributed to declining food prices and fueling hopes for subsequent interest rate reductions. Meanwhile, advancements in the technology and manufacturing sectors helped balance downturns in the banking and financial services sectors. Concurrently, the Nifty index fluctuated around 25,100, buoyed by significant gains from IndusInd Bank (up 2.2%) and Tech Mahindra (up 2.0%). Conversely, ICICI Bank (down 0.9%), Asian Paints (down 0.9%), and Bajaj Finserv (down 0.8%) experienced setbacks.