FX.co ★ India Stocks Trade Slightly Higher

On Thursday morning, the BSE Sensex climbed by 73 points, or 0.2%, reaching 80,698, marking the continuation of a positive trend for the second consecutive session. This upward movement mirrored the positive performance on Wall Street on Wednesday, influenced by ongoing anticipation of a possible Federal Reserve interest rate cut in September, which buoyed market sentiment. Meanwhile, traders kept a close eye on the upcoming meeting between US President Trump and Russian President Putin, scheduled for August 15 in Alaska, as it holds the potential to alleviate trade tensions between the US and India. Investors remained particularly attentive to the first quarter earnings reports, with several companies, including Vodafone Idea and Indian Oil Corporation, slated to release their results later in the day. Additionally, the Nifty 50 edged up by 0.1%, surpassing the 24,650 mark, whereas the small-cap and mid-cap indices experienced declines of 0.3% and 0.2%, respectively. The market's ascent was largely driven by gains in the technology, banking, financial services, and pharmaceutical sectors, with standout performances from Infosys (up 1.5%), Bajaj Finserv (up 0.7%), ICICI Bank (up 0.5%), Maruti Suzuki (up 0.4%), and HDFC Bank (up 0.4%).