FX.co ★ Sensex Trades in the Green in Early Deals

Indian equities experienced an upswing on Monday morning, with the market climbing 152 points to reach 81,459, effectively offsetting the losses incurred in the previous session. This positive trajectory aligned with gains observed across Asian markets, spurred by an optimistic session on Wall Street. The session was buoyed by remarks from Federal Reserve Chair Jerome Powell during his speech at Jackson Hole, hinting at the possibility of an interest rate cut in September. Domestically, investor sentiment was further buoyed by encouraging economic indicators, including a Reuters poll projecting a robust GDP growth rate of 6.7% for Q2. This prediction follows a Q1 growth rate of 7.4%, despite the impact of new U.S. tariffs. Market participants are also anticipating the release of the U.S. PCE Price Index and Q2 GDP figures later in the week. Broadly, most sectors performed well, with the technology sector leading the charge, posting a 2.1% increase. The Nifty 50 index inched up 0.1%, surpassing the 24,900 mark. Additionally, small-cap and mid-cap indices rose by 0.4% and 0.3%, respectively. Notable performers in the market included Infosys, which surged by 2.4%, Tata Consultancy Services (TCS) with a 1.4% rise, HCL Technologies increasing by 2.1%, and Tech Mahindra gaining 1.9%.