FX.co ★ India Stocks Kick off Q3 on Upbeat Note

In early trading on the first day of the new quarter, Indian stock markets saw an increase of 143 points, or 0.2%, reaching a level of 83,777. This uptick followed losses in the previous session and was largely bolstered by gains in the tech sector. The BSE Sensex mirrored a positive trend observed on Wall Street, which was fueled by a reduction in trade tensions. Moreover, market sentiment was lifted by recent data indicating that India's manufacturing sector expanded at its quickest rate in 14 months during June. Concurrently, India reported a fiscal deficit of INR 0.13 trillion for the months of April and May, marking an improvement over the same period in 2024, due to increased government revenue. Additional optimism stemmed from China's PMI figures, which showed unexpected growth in factory activity driven by a rise in new orders. Despite these positive indicators, traders remained vigilant ahead of the looming July 9 deadline for trade discussions with the United States and the possibility of tariffs from the Trump administration. Among the top gainers, Asian Paints rose by 1.1%, followed by Mahindra & Mahindra with a 1.0% increase, UltraTech Cement up by 0.8%, and both Bharti Airtel and Reliance Industries seeing gains of 0.7%.