FX.co ★ India Stocks Attempt to Rise Amid Tech Sell-off

On Wednesday morning, the BSE Sensex edged up by 79 points, marking a 0.1% increase to reach 83,818, while the Nifty Index advanced 0.2%, surpassing the 25,700 mark. This uptick was largely driven by the positive sentiment surrounding the US-India trade agreements. Broader market indices also attempted to build on the previous day's remarkable performance—their best in nine months—thanks to the removal of a significant market hurdle with the India-US trade deal, which in turn bolstered foreign investment inflows. Across various sectors, stocks traded positively, including those in the automotive, banking, healthcare, and pharmaceutical industries. Among the prominent early risers were NTPC, gaining 2.1%, Power Grid, up by 1.8%, Mahindra & Mahindra, and Reliance Industries, each increasing by 1.7%. Nevertheless, the tech sector faced pressure due to a global downturn in AI-related technology stocks, which limited overall market gains. Specifically, the tech index dropped by 5.2%, with major companies like Infosys, TCS, HCL Tech, and Tech Mahindra seeing declines of 6.1%, 5.2%, 4.6%, and 4.2%, respectively. Regarding economic data, final statistics indicated a slight downward revision in Indian private sector growth, although the expansion remained strong, underpinned by robust performance in both manufacturing and services sectors.