FX.co ★ India Stocks Head for 3rd Straight Weekly Losses

The BSE Sensex declined by 520 points, or 0.6%, to 81,735 during Friday morning trading, continuing its downward trend from the previous session and reaching its lowest point in nearly four weeks. This drop was primarily influenced by weaknesses in the banking, financial services, realty, and technology sectors. Traders maintained a cautious stance due to ongoing uncertainties regarding trade agreements with the United States, with the August 1 deadline looming. These concerns were further amplified as investors awaited earnings reports from several companies, notably Reliance Industries, which is set to release its earnings later today. Axis Bank saw a significant decrease of 4.5%, facing its worst day in six months following an unexpected quarterly profit decline caused by increased bad loans stemming from a one-time industry benchmarking exercise. In the meantime, LTIMindtree dipped 1.9%, despite reporting earnings that were broadly aligned with market expectations. For the week, the Sensex is projected to decline by 0.9%, marking the third consecutive weekly loss amid persistent uncertainties surrounding US–India trade discussions.