FX.co ★ India Equities Trade Lower

On Thursday, Indian shares dropped 380 points, or 0.5%, to 80,962 during morning trading, pausing the upward movement seen in the previous session. Most sectors experienced declines, with technology, real estate, and financials leading the downturn. The market appeared to consolidate due to a scarcity of new driving factors. The BSE Sensex mirrored a decrease in US futures, while traders continued to observe advancements in the US-China trade negotiations. Attention also focused on quarterly earnings, with several firms set to release their Q4 results today, including JSW Energy, ITC Hotels, and PB Fintech. The Nifty 50 slipped by 0.4%, dropping below 24,600 points. The most significant losers included Power Grid (-1.5%), NTPC (-1.4%), Infosys (-1.1%), and Nestle India (-1.1%). Furthermore, IndusInd Bank saw its shares decline by 1.1% following reports of a new investigation by the bank's internal audit department into a series of accounting reversals from the past, as reported by local media.