FX.co ★ Indian Shares Poised for Weekly Gains

Indian equities witnessed an uptick of 195 points, or 0.2%, reaching 80,916 in early Friday trading. This marks a third straight session of gains, attaining their peak since August 25, spurred by optimism from robust domestic demand invigorated by Goods and Services Tax (GST) reforms. Mirroring a positive Wall Street performance overnight, the BSE Sensex benefited from the anticipation that the US Federal Reserve might lower interest rates this month. Domestically, attention is focused on the upcoming August Consumer Price Index (CPI) data, especially after July's figures dipped below the Reserve Bank of India's target range for the first time, raising hopes for potential interest rate reductions. Nonetheless, caution prevails with upcoming economic data from China poised to include significant trade and consumer price information. Leading movers included Mahindra & Mahindra, advancing by 2.0%, Maruti Suzuki at 1.3%, Tata Motors rising 1.1%, and Power Grid up 0.9%. For the week, the index appears set for a 1.4% gain, rebounding from the prior week's downturn, bolstered by confidence in GST-induced economic reforms.