FX.co ★ India Stocks Move in the Green

On Wednesday, the Indian stock market saw a rise of 140 points, equivalent to 0.2%, bringing the index to 82,506 in early trading. This uptick comes on the heels of a nearly static trading day earlier this week. The BSE Sensex reached its highest mark since mid-May, driven by increases in Asian markets, buoyed by a positive overnight session on Wall Street. This optimism was spurred by encouraging developments in US-China trade talks. Positive sentiments were further bolstered by promising signs from ongoing India-US trade negotiations, which have focused on improving market access, reducing tariffs, and eliminating non-tariff barriers. Additionally, investor confidence was strengthened by projections of easing inflation. Forecasts indicate that inflation for May could drop to 3.0%, marking the lowest rate since April 2019, thereby enhancing prospects for subsequent interest rate cuts. The oil & gas and automotive sectors were key contributors to the index's upward movement. Furthermore, the Nifty 50 index saw a 0.2% increase, surpassing 25,150 points. This growth was particularly propelled by notable performances from companies such as Mahindra & Mahindra (1.7%), Reliance Industries (1.5%), JSW Steel (1.0%), NTPC (0.6%), and UltraTech Cement (0.5%).