FX.co ★ Indian Stocks Extend Gains on Earnings Optimism

The BSE Sensex increased by 373 points, or 0.5%, reaching 82,978 in morning trading on Thursday, marking its second consecutive session of gains. This rise is driven by optimism surrounding quarterly earnings and consistent foreign investment inflows. The broader index achieved its highest level since October 1, with nearly all sectors witnessing positive performance, notably led by the auto, financial services, and banking sectors. In contrast, minor declines in the technology sector tempered the rally ahead of anticipated earnings reports from two of India's largest IT companies, Infosys and Wipro. Market sentiment received an additional boost from RBI Governor Sanjay Malhotra’s remarks during the October 1 monetary policy review, hinting at robust GDP growth for the September quarter. Nonetheless, ongoing US-China trade tensions constrained broader market advancements. Among individual stocks, Axis Bank saw a notable increase of 2.5% following its Q2 earnings release, with Titan, Tata Motors, Adani Ports, and Mahindra & Mahindra following suit, posting gains of 1.8%, 1.7%, 1.5%, and 1.4%, respectively.