FX.co ★ Indian Stocks Extend Bullish Momentum Into 7th Day

On Wednesday, India's BSE Sensex advanced approximately 0.7% to close at 80,116.5, marking its highest level since January and sustaining a seven-day winning streak. The rise was predominantly driven by substantial buying in IT stocks, which outweighed moderate profit-taking in the banking sector, as sentiment improved following eased Sino-U.S. trade tensions. HCLTech emerged as the leading performer, with its shares soaring by 7.7% after the company announced an 8.1% increase in consolidated net profit for the January to March quarter of the FY 2024–25 and provided an optimistic revenue forecast for FY 2025–26. Further boosting market confidence, initial data indicated that India's private sector experienced its fastest growth in eight months in April, propelled by a significant uptick in export orders. However, the International Monetary Fund and the World Bank both downgraded India's growth projections, citing global economic uncertainties.