FX.co ★ Sensex Ends Six-Day Winning Streak

Equity markets in India experienced a downturn on Tuesday morning, with a decrease of 318 points or 0.4%, bringing the index to 84,633. This decline interrupted a six-day streak of gains as investors grew cautious in anticipation of key upcoming economic data from the United States. This data could potentially impact the Federal Reserve's monetary policy decision in the upcoming month. Following the overnight decline seen on Wall Street and prior to the release of employment data and Nvidia's quarterly earnings, the BSE Sensex mirrored this downward trend. Similarly, the Nifty 50 index fell by 0.4%, while mid-cap and small-cap indices declined by 0.4% and 0.8%, respectively. Additionally, market sentiment was dampened by recent trade statistics revealing India’s record trade deficit, bolstered by a persistent decrease in exports to the United States. Despite this, optimism about prospective trade agreements between the US and India helped mitigate further market losses. Technology stocks bore the brunt of the downturn, falling by 0.9% in tandem with losses on Wall Street's Nasdaq, with significant declines observed in Infosys (-1.0%), Tech Mahindra (-1.0%), and HCL Tech (-0.8%). Other notable early decliners were Bajaj Finserv and Bajaj Finance, each experiencing a reduction of 0.9%.