FX.co ★ Sensex Edges Lower in Morning Trade

Indian equities experienced a decline of 148 points, or 0.2%, reaching 83,831 in early trading on Tuesday. This downturn was primarily influenced by losses in the technology, banking, automotive, and financial sectors. The cautious atmosphere surrounding US-India trade discussions, the Federal Reserve's impending interest rate decision, and lackluster Q2 earnings results further contributed to the negative market sentiment. The BSE Sensex, which had remained almost steady in the previous session, saw a reduction, mirroring a similar 0.2% drop in the Nifty 50. This movement was parallel to trends in US stock futures as investors opted to take profits amidst ongoing concerns about stagflation and warnings of a potential recession. Despite this, traders anticipated further Q2 earnings reports later in the day, including those from Adani Enterprises and Mahindra & Mahindra. Notably, Power Grid was among the top decliners, falling by 2.7% after reporting a 6% drop in its Q2 net profit. Other key stocks that saw a decrease included Tata Motors, which fell by 1.2%, as well as HCL Technologies and Nestle India, both of which declined by 1.1%, and NTPC, which saw a 1.0% drop.