FX.co ★ Indian Stocks Edge Higher in Early Deals

In a volatile trading session on Thursday morning, the BSE Sensex rose by 149 points, or 0.2%, reaching 85,256, thereby breaking a four-day losing streak as investors braced for the Reserve Bank of India's monetary policy announcement on Friday. Market participants are anticipating a 25 basis point cut to the key repo rate, spurred by the current easing of inflationary pressures. Positive sentiment was bolstered further by the expectation of an interest rate cut from the Federal Reserve in the coming week. Despite these developments, persistent foreign outflows exerted downward pressure on the rupee, pushing it to an all-time low. Additionally, uncertainties surrounding a potential trade agreement between the United States and India limited further market gains. Concurrently, the Nifty 50 index edged up by 0.2% to surpass the 26,000 mark, with mid-cap stocks advancing by 0.3% and small-cap stocks remaining largely stable. Leading the charge were technology stocks, which advanced by 1.3%, followed by gains in the automotive and metals sectors. Notable early performers included Tata Consultancy Services, which gained 1.4%, HCL Technologies and Tech Mahindra, both up by 1.2%, along with Asian Paints and Infosys, which saw increases of 0.8% and 0.7% respectively.