FX.co ★ Sensex Drops, but Heads for Muted Weekly Performance

On Friday, the BSE Sensex experienced a decline of 366 points, or 0.4%, settling at 81,827—its lowest point since mid-June—continuing the downward trend from the prior session. Similarly, the Nifty 50 index fell by 0.5%, dropping below the 25,000 milestone, predominantly impacted by the technology and financial services sectors. Bajaj Finance notably decreased by 5% after its first-quarter results received a downgrade from JP Morgan, contributing to a 0.4% drop in the financial services segment. With an earnings announcement expected later today, Bajaj Finserv also saw a significant dip of 4.8%. The tech sector wasn't spared, as its stocks fell 0.5%, with notable declines in Infosys (down 1.3%) and Power Grid (down 1.0%). Market participants are also anticipating first-quarter earnings reports from Shriram Finance, Bank of Baroda, and Tata Chemicals, scheduled for release today. Persistent uncertainty concerning the US–India trade negotiations, with the August 1 deadline looming, continues to dampen market sentiment. Over the course of the week, the Sensex is poised for a relatively flat performance after experiencing declines for three consecutive weeks.