FX.co ★ Indian Stocks Extend Losses

The BSE Sensex declined by 162 points, or 0.2%, to settle at 82,165 during Tuesday's morning trade. This marks its second straight session of losses, reaching a two-week low. The downturn was primarily influenced by tepid performances in the auto, banking, and financial services sectors. Market sentiment was tamped by the resurgence of US-China trade tensions, notwithstanding the scheduled meeting between President Trump and Chinese President Xi Jinping later in October aimed at easing the situation. Further dampening the mood were worries about the enduring US government shutdown and speculation regarding the wholesale price data release for September, expected later today. On a brighter note, September's inflation figures spurred optimism for a potential interest rate reduction during the Reserve Bank of India's (RBI) December policy review, as inflation dipped below the RBI's lower tolerance threshold of 2%. Among the most significant decliners were Axis Bank (-1.1%), Bajaj Finance (-1.0%), IndusInd Bank (-0.8%), and Maruti Suzuki (-0.8%).