FX.co ★ India Stocks Edge Higher in Morning Trade

Indian equities experienced a 0.2% increase, climbing 200 points to reach 85,101 during morning trading on Tuesday. This uptick follows declines over the past two sessions and aligns with a positive close on Wall Street, fueled by hopes for US interest rate cuts in the coming month. Despite forecasts for a slight slowdown in the September quarter's GDP growth to 7.3% from 7.8% previously, market sentiment remained optimistic due to strong rural demand and government spending. The mood was further buoyed by the Reserve Bank of India's monthly report released on Monday, which highlighted the supportive role of domestic tax reductions and the central bank’s interest rate cuts in fostering private investment and GDP advancement. Notable contributions to the rally came from sectors such as metals, banking, financial services, and consumer durables. Early gainers included JSW Steel and Reliance Industries, both up by 1.1%, State Bank of India with a 1.0% increase, and Titan and Tata Steel, each advancing by 0.8%.