FX.co ★ Indian Equities Poised for Third Week of Gains

The BSE Sensex advanced by 353 points, or 0.4%, to reach 83,820 during early trading on Friday, marking its highest performance since June 27. This surge is fueled by positive sentiments surrounding corporate earnings and consistent inflows of foreign capital. The broader index extended its gains for the third consecutive session, with consumer durables and auto stocks spearheading the upward trend. Anticipation is building as over 40 key corporations are poised to release their earnings reports, including Reliance Industries, which will announce its results after market hours. However, the technology sector exerted downward pressure on the index, declining by 1.3% due to subpar second-quarter results from companies like Infosys, down 1.7%, and Wipro, which fell by 2.4%. Additionally, lingering US-China trade tensions and the ongoing US government shutdown mitigated potential gains. Leading the day's top performers were Asian Paints, which rose by 4.8%, followed by Mahindra & Mahindra at 1.9%, Bharti Airtel and Nestlé India, both at 1.4%, and Hindustan Unilever at 1.3%. For the week, the index is on course for a 1.6% increase, potentially marking its third week of successive advancement.