FX.co ★ India Stocks Extend Fall

In morning trading on Thursday, the BSE Sensex dipped by 178 points, or 0.2%, reaching 83,359. This marks the second straight session of decline as traders remained cautious about the possibility of a US-India trade agreement. Additionally, investors prepared for the unveiling of June quarter earnings, with TCS set to release its financial results today. The session saw volatility, with the pharmaceutical and healthcare industries leading the downturn at a 0.7% decline, influenced by US plans to enact a 200% tariff on pharmaceutical imports. Concurrently, the technology sector decreased by 0.5%, and consumer goods saw a decrease of 0.3%. Mitigating the overall decline were the minutes from the Federal Reserve meeting, which showed expectations for potential interest rate cuts later this year. Moreover, a buoyant session on Wall Street—propelled by a surge in the tech sector—helped buffer further losses in the index. Notable decliners included Bharti Airtel (-1.3%), HCL Tech (-1.0%), Infosys (-0.9%), Tech Mahindra (-0.8%), and Asian Paints (-0.8%).