FX.co ★ Sensex Ends on Higher Note

India's BSE Sensex ended the trading session with an increase of approximately 0.5%, reaching 50,567.7, following an initially turbulent day on Wednesday. This uplift was largely driven by a surge in metal and consumer stocks, fueled by anticipation of a consumption-boosting stimulus to be discussed at the ongoing GST Council meeting. The two-day meeting of the GST Council commenced today, poised to examine potential rate reductions for various products, an initiative highlighted by Prime Minister Modi in his Independence Day speech. Market sentiment benefited from encouraging economic indicators and consistent foreign investments. Although final reports indicated a slight downgrade in India’s private sector growth figures, they nonetheless represented the most significant expansion in over 17 years, propelled by strong growth in both manufacturing and services sectors. Leading the charge, Tata Steel experienced a 5.9% uptick, driven by a weakening dollar and China's initiative to reduce steel production. Other notable advancers included Titan, M&M, ITC, Eternal, State Bank of India, and Trent. In contrast, Infosys, NTPC, Hindustan Unilever, TCS, Adani Ports, and Bharti Airtel emerged as the day's major decliners.