FX.co ★ Sensex Finishes on Positive Note

India's BSE Sensex concluded the day up by approximately 0.4%, reaching 81,857.5 on Tuesday. This trading session experienced significant intraday volatility, primarily influenced by the expiration of monthly derivatives. Investor sentiment was buoyed by strong quarterly earnings reports, coupled with the announcement of a substantial India-EU free trade agreement. The long-awaited trade deal stipulates that India will eliminate or reduce tariffs on 96.6% of traded goods, while the EU will decrease tariffs on 99.5% of goods over a seven-year period. This agreement has also increased the likelihood of the US reducing tariffs on India. Leading the market, Axis Bank surged 5% following its report of an unexpected rise in quarterly profit attributed to robust loan growth. UltraTech Cement saw a 2% uptick due to better-than-anticipated third-quarter results. Tata Steel gained 2.7%, benefiting from strong results posted by JSW Steel and an increase in metal prices. Conversely, auto stocks lagged behind as concerns arose regarding heightened competition due to decreased car import tariffs under the India-EU agreement.