FX.co ★ Indian Equities Slip, Financials Drag Market Lower

The BSE Sensex experienced a decline of 309 points, or 0.4%, settling at 83,227 during Tuesday's morning trade, interrupting the upward trend of the previous session. This drop was primarily influenced by the performance of financial services, banking, and automobile stocks. In particular, the financial services index saw a reduction of 1.0%, largely due to Bajaj Finance, which suffered a drop exceeding 7% after revising its asset growth forecast downward, despite a notable 23% increase in consolidated net profit. This downturn overshadowed the positive outlook generated by indications of a potential India–US trade agreement and the US Senate's approval of a bill to end the government shutdown, as reported by CNBC. Nonetheless, losses were mitigated by expectations of October's inflation rate decreasing to 0.48%, marking the lowest point since at least 2012, sparking optimism for possible interest rate cuts at the upcoming Reserve Bank of India meeting. Early on, Bajaj Finserv, Tata Motors, and Titan were among the notable decliners, with decreases of 6.8%, 1.8%, and 1.1%, respectively.