FX.co ★ India Shares Set for 2nd Straight Weekly Gains

The BSE Sensex experienced an increase of 335 points, equivalent to a 0.4% rise, reaching 82,507 during Friday's morning trading session. This marks the second consecutive session of gains. The uptick was predominantly bolstered by positive momentum in the real estate, banking, consumer durables, financial services, and energy sectors. The broader index achieved its highest point since September 19, buoyed by renewed foreign investments. Market sentiment was further uplifted by anticipation of September's inflation figures, which are projected to ease to 1.7%, falling below the Reserve Bank of India's targeted range of 2-6%. This scenario has heightened expectations of interest rate cuts in the forthcoming RBI meeting. Nonetheless, earnings reports from TCS and Tata Elxsi, which performed below expectations, limited further advances. Notable early gainers included State Bank of India, rising by 2.3%, NTPC by 1.5%, Power Grid by 1.45%, Axis Bank by 1.3%, and IndusInd Bank by 1.0%. For the week as a whole, the index is on track for a 1.6% increase, representing a second consecutive weekly gain amid optimism for additional Federal Reserve rate reductions.