FX.co ★ Sensex Attempts to Rise Ahead of Inflation Data

The BSE Sensex climbed by 248 points, or 0.3%, reaching 80,098 during Monday's morning trading session, as it sought to recover from a three-month low recorded in the previous trading day. This movement occurred in anticipation of domestic inflation figures to be announced on Tuesday. According to a Reuters poll, India's July inflation is anticipated to decline to an eight-year low of 1.76%, slipping below the Reserve Bank of India's (RBI) tolerable range of 2%–6% for the first time in over six years. This development raises the possibility of interest rate cuts at the RBI's forthcoming meeting. Nonetheless, the upward momentum was restrained by persistent uncertainty regarding potential US tariffs on imports from India. Investors also kept a close watch on the forthcoming meeting between US President Trump and Russian President Vladimir Putin, scheduled for August 15 in Alaska, to discuss potential resolutions to the Ukraine conflict. Gains in the auto, banking, pharmaceuticals, and healthcare sectors were key contributors to the index's performance. Early leaders included Tata Motors (up 2.4%), SBI (up 1.9%), UltraTech Cement (up 0.8%), and NTPC (up 0.7%).