FX.co ★ Sensex Ends at Over 2-Week Low

India's BSE Sensex saw a decline of approximately 0.8%, closing at 82,500.5 on Friday, reaching its lowest level since June 24. This marks the third consecutive drop as trade tensions intensify and domestic earnings remain lackluster. In a recent development, the US President announced plans to impose a 35% tariff on Canadian imports starting next month, potentially extending blanket tariffs of 15% to 20% to other key trading partners. Investors continue to anticipate a trade agreement between the US and India. The downturn was primarily driven by the IT and automotive sectors, with TCS experiencing a drop of over 3.5% following disappointing Q1 results. Other significant decliners were M&M, Tata Motors, Bharti Airtel, HCL Tech, Titan, Bajaj Finance, Reliance, Trent, and Infosys. Conversely, consumer stocks defied the general trend, highlighted by Hindustan Unilever, which surged over 4% on the announcement of Priya Nair as its first female CEO, effective August 1. Over the week, the index reflected a 1.1% decline amidst continued uncertainty surrounding US-India trade discussions.