FX.co ★ India Stocks Extend Gains

The BSE Sensex advanced by 342 points, equating to a 0.4% rise, reaching 82,200 during Wednesday morning trading. This marked its second consecutive session of gains, driven by a trade deal between India and the European Union. The significantly reduced tariffs on most goods bolstered market spirits. The broader market index mirrored an optimistic session on Wall Street from the previous night, as investors prepared for a crucial week of earnings and policy developments. Despite this positivity, anticipation brewed among traders regarding the Federal Reserve's monetary policy decision scheduled post-market hours. A majority of sectors traded positively, with financial services, technology, and banking stocks leading the way. Among notable individual stocks, Axis Bank surged 2.3%, while Adani Ports, Power Grid, and Reliance Industries each rose by 1.3%. Conversely, the auto sector experienced a 0.9% decline due to worries about increased competition arising from India's new trade agreement, which includes the EU's commitment to reducing car tariffs from 110% to 40%.