FX.co ★ Indian Stocks Down for 2nd Day

The BSE Sensex in India concluded Tuesday's trading down by approximately 0.4% at 82,030, marking its second consecutive day of declines. This downturn was driven by widespread selling prompted by fresh apprehensions over an escalation in US-China trade tensions. The recent implementation of port fees by both China and the US has instigated a new phase in their ongoing trade conflict. Domestically, the lackluster Q2 financial results so far, coupled with softer inflation data, have exacerbated concerns regarding weak demand, leading to intensified profit-taking. However, market sentiment remained somewhat buoyed by optimism surrounding a US-India trade agreement and consistent foreign investment inflows. Notable declines were observed among companies such as Bajaj Finance, Bharat Electronics, Tata Steel, Trent, TCS, and Asian Paints, with losses ranging from 1.5% to 1.9%. On the flip side, Tech Mahindra rose by 1.3%, while ICICI Bank, Hindustan Unilever, and Power Grid each saw a modest increase of 0.4%, standing out as the few gainers in the market.