FX.co ★ India Stocks Head for 2nd Straight Weekly Losses

The BSE Sensex fell by 482 points, or 0.6%, reaching an two-week low of 82,712 on Friday morning. This marked its third consecutive drop, driven by renewed trade tensions following President Trump's decision to impose significant tariffs on Canada. The market sentiment was also negatively impacted by disappointing earnings from TCS, whose shares declined by 2.2% after reporting quarterly results that did not meet expectations. Consequently, the Nifty IT index fell by 1.3%, with significant losses seen in Infosys, down 1.6%, and HCL Tech, down 1.3%. Investors remained cautious, anticipating trade data from China, India's primary trade partner, which is expected next Monday amidst ongoing global trade uncertainties. Nonetheless, the market's downturn was partially offset by optimism from a Reuters survey predicting India's inflation rate to decrease to 2.5% in June, the lowest it has been in six years. The benchmark index seems set for a 0.9% decline over the week, indicating a second consecutive weekly drop, amidst continued uncertainties regarding US-India trade negotiations.