FX.co ★ Indian Stocks Inch Lower

Indian stocks experienced minor fluctuations on Tuesday, ultimately closing flat as markets evaluated recent corporate earnings and the trade outlook between India and the United States. The S&P BSE Sensex slightly dipped below the flatline, closing at 82,187, while the NSE Nifty 50 eased by 0.1% to settle at 25,061. Reliance Industries saw a decline of 1.1%, extending a 3.2% drop from the previous session, as investors closely examined the company's guidance and noted weaker performance in its retail and oil-to-chemicals divisions. In the automotive sector, shares slipped with Tata Motors and Bajaj Auto each losing close to 2%. Infosys remained unchanged ahead of its earnings report scheduled for tomorrow. Conversely, Zomato's parent company, Eternal, experienced a significant 10.3% surge following reports of improved margins. On the macroeconomic front, prospects for trade appeared bleak after the Indian delegation indicated that an interim trade deal with the US is unlikely to be achieved before August, potentially leading to increased tariffs on Indian exports.