FX.co ★ Sensex Ends on Higher Note

India's BSE Sensex marked a recovery, closing approximately 0.9% higher at 80,983 on Wednesday, ending an eight-session losing streak, the longest experienced in seven months. Banking stocks led the rally, with significant contributions from Kotak Mahindra Bank (+3.6%), ICICI Bank (+1.7%), and HDFC Bank (+1.5%). This positive movement came as the Reserve Bank of India (RBI) decided to keep the policy repo rate steady at 5.5% for the second consecutive session. Additionally, the central bank announced measures to relax lending regulations, including higher limits on loans against shares and IPO financing, along with enhanced capital market financing frameworks. Stocks in the automotive and healthcare sectors also performed strongly. Tata Motors experienced the largest gain on the index, rising over 5%, following the announcement of a record date for the demerger of its commercial business and a promising growth forecast. Sun Pharma advanced by over 2% in the wake of the Pfizer-Trump agreement. Note that the market will be closed tomorrow in observance of Mahatma Gandhi Jayanti/Dussehra.