FX.co ★ India Stocks Head for Monthly Losses

The BSE Sensex experienced a decline of 511 points, translating to a 0.6% drop, settling at 80,954. This downturn interrupted the gains observed over the previous two trading sessions. Similarly, the Nifty index decreased by 0.6%, positioning around 24,700, following the announcement by US President Donald Trump of a 25% tariff on imports from India. This move caused a widespread downturn across nearly all sectors, with the oil & gas sector experiencing the most significant decline at 1.7%, fueled by Trump's indications of potential additional penalties due to India’s energy relationship with Russia. Investors were also keenly awaiting the first-quarter results from major corporations such as Coal India, Maruti Suzuki, Mahindra & Mahindra, and TVS Motors, which were expected to release their earnings later in the day. Additionally, market caution intensified with anticipation of crucial US economic indicators, including employment data and the PCE inflation report. Bharti Airtel and Reliance Industries were notable underperformers, registering declines of 1.6% and 1.5% respectively, while ICICI Bank, Bajaj Finance, and Infosys each saw decreases of approximately 1%. For the month, the index is projected to fall by 3.2%, marking the first decline in a span of five weeks amidst enduring US-India trade tensions.