FX.co ★ Indian Stocks Snap Three-Day Losing Streak

On Monday, the BSE Sensex surged by 330 points, equating to a 0.4% increase, reaching a level of 80,140 during early trading. This rise broke the losing streak of the past three sessions. The uptick was influenced by a recent US court ruling that found most tariffs imposed by President Trump to be illegal, although these tariffs will remain effective until October 14. Investors were further encouraged by robust GDP data for the June quarter, which showcased India’s economy expanding by 7.8% from April to June. This marked an acceleration from the previous quarter’s 7.4% growth and exceeded analysts’ expectations of a 6.6% growth rate. Meanwhile, the Nifty 50 increased by 0.5%, surpassing the 24,500 mark, while small-cap and mid-cap stocks appreciated by 1% each. Investor confidence was also bolstered by final PMI figures indicating that the country’s manufacturing sector expanded at its most rapid rate in 17 years. All sectors registered gains, notably led by technology stocks with a 1.5% increase, while energy and automotive sectors each advanced by 1.0%. Leading the day's performers were Infosys (1.8% gain), Mahindra & Mahindra (1.7%), Power Grid (1.7%), Asian Paints (1.5%), and Adani Ports (1.2%).