FX.co ★ India Stocks Muted in Morning Trade

The BSE Sensex held steady, hovering around the 81,361 mark, following gains from the previous session as uncertainty loomed over the impending US-India trade discussions ahead of a significant tariff deadline. Market participants remained vigilant as President Trump signaled potential tariffs on India, ranging from 20% to 25%, which is slightly less than the 26% announced in April. The anticipation of Q1 earnings results added to the cautious sentiment, with significant reports expected from Power Grid and Tata Power today. Additionally, investors were keenly awaiting the Federal Reserve's decision on interest rates amidst continued calls from President Trump for a more accommodative policy. In a positive development, the IMF raised India’s GDP growth projection to 6.4% for FY2026 and FY2027. On a sectoral basis, gains in the pharmaceuticals and healthcare segments balanced out decreases in the auto and technology sectors. L&T enjoyed a significant boost, surging 4.4% after announcing a 67% increase in net profit. Meanwhile, Asian Paints saw a 1.1% increase, whereas Tata Motors and ITC experienced declines of 3.8% and 0.5%, respectively.