FX.co ★ Sensex Rises for 2nd Day

The BSE Sensex in India witnessed a rise of 700 points, or 0.85%, closing at 82,755.5 on Wednesday, marking its second consecutive session of gains. The rise was predominantly driven by advances in consumer goods and tech stocks, which compensated for the pressure experienced by certain banking and defense shares. This upward trend in the market was further bolstered by the reduction in Middle East tensions following a cautionary statement from U.S. President Donald Trump that seemingly halted hostilities. Additionally, Federal Reserve Chair Jerome Powell reaffirmed the central bank's cautious stance, indicating that interest rates would not be adjusted until further economic data becomes available. Among individual stocks, Titan saw a significant increase of 3.6%, propelled by Macquarie's decision to maintain its 'Outperform' rating and elevate its target price, attributing the boost to robust jewelry sales. Other notable performers included TCS with a 1.7% rise, followed by Nestlé India at 1.6%, and both Tech Mahindra and Infosys registered gains. Conversely, Bharat Electronics Limited experienced a 3% decline, positioning it as the index's largest loser, while Kotak Mahindra Bank and Axis Bank also recorded downturns.