FX.co ★ Sensex Halts 4-Day Decline

The BSE Sensex in India concluded Tuesday with a gain of approximately 0.4%, reaching a level of 82,570.9. This mild recovery came after the index experienced losses over the past four sessions, and it was supported by domestic inflation figures that came in lower than anticipated and positive sentiment regarding a potential trade agreement between the US and India. Notably, India’s inflation rate declined significantly to a six-year low of 2.10% in June, reinforcing expectations for forthcoming interest rate cuts aimed at bolstering economic expansion. Furthermore, optimism persists about a possible interim trade deal with the US. Nonetheless, traders exhibited caution as they awaited US inflation data, which could impact the Federal Reserve’s approach to interest rates. In corporate news, the market witnessed gains across various sectors. Among key performers, Sun Pharma's shares surged nearly 3% following its announcement of a settlement with US-based Incyte Corporation concerning the hair loss treatment Leqselvi, which alleviated regulatory concerns. Conversely, HCL Technologies saw a decline of over 3% after its first-quarter profit fell short of expectations, despite surpassing revenue projections.