FX.co ★ Indian Stocks Down for 4th Day

The BSE Sensex in India concluded Wednesday's session with a decline of approximately 0.5%, settling at 81,716, marking its lowest level in nearly two weeks. This represents a fourth consecutive day of losses, the longest losing streak since mid-July. The decline was primarily driven by ongoing concerns about the impact of U.S. visa restrictions on Indian companies. Market sentiment remained under pressure due to Federal Reserve Chair Jerome Powell's cautious remarks on interest rates, uncertainties surrounding U.S.-India trade negotiations, and increasing skepticism about the durability of the AI-driven market rally. Additionally, persistent foreign capital outflows overshadowed the optimistic anticipations of increased consumption during the festive season. The IT sector was significantly affected, declining by 0.7% today and 4.3% following Washington's implementation of a $100,000 fee for new H-1B visa applications as of Sunday.