FX.co ★ Indian Stocks Hit New Milestone, Book Weekly Gain

The BSE Sensex in India ended with a 0.4% increase, closing at 84,058.9 on Friday, marking its highest level since October 2024 and extending its upward trend to four consecutive sessions. This rise was fueled by positive market sentiment driven by anticipation of a forthcoming trade deal with the United States, reduced geopolitical tensions, and fresh foreign investments. President Donald Trump has suggested a "very big" trade agreement with India, following the recent U.S.-China trade accord. Concurrently, the Reserve Bank of India has advised banks to lower lending rates subsequent to a recent 50 basis-point reduction, as stated in its June Bulletin, which notes that conditions are conducive to smooth policy transmission. Among the key performers were Asian Paints, UltraTech Cement, Power Grid, ICICI Bank, Reliance Industries, Hindustan Unilever, Bharat Electronics, and Sun Pharma. On the other hand, Axis Bank, Eternal, Trent, Bajaj Finance, and Titan underperformed. Over the week, the index achieved a 2% gain, marking the second successive weekly increase, primarily bolstered by improved geopolitical outlooks.