FX.co ★ Indian Stocks at 2-Month Lows

India's BSE Sensex concluded Friday's trading session down by approximately 0.7%, settling at 83,576 - its lowest point since November 10. This decline marks the fifth consecutive day of losses. The market continued to be pressured by ongoing foreign institutional investor (FII) outflows, uncertainties surrounding US-India tariff negotiations, and rising geopolitical tensions. Investor concerns deepened over the possibility of a 500% tariff imposed on nations like India, a significant importer of Russian oil. Additionally, market participants awaited the US Supreme Court's decision on the tariffs introduced during the Trump administration. On the macroeconomic front, attention is shifting towards the imminent US jobs report, as well as India's domestic December inflation data, anticipated to be released on the upcoming Monday, with expectations of a rise to 1.5%. The oil and gas sectors witnessed the most significant declines, alongside financial, automotive, and metal sectors. Major contributors to the downturn included NTPC (-2.4%), Adani Ports (-2.2%), ICICI Bank (-2.1%), and Bharti Airtel (-1.7%). Conversely, the information technology sector experienced gains, fueled by optimism ahead of the earnings reports from TCS and HCL Tech on Monday. Over the week, the index recorded a 2.5% decline, marking its first weekly decrease in three weeks and the most severe weekly loss since September.