FX.co ★ India Equities Rebound, Ending 2-Day Slide

The BSE Sensex experienced an uptick of 251 points, or 0.3%, reaching 84,935 during Wednesday's morning session, breaking a two-day decline amidst anticipation of potential US interest rate reductions later today. Positive sentiment was further bolstered by the prospects of US–India trade agreements after US Trade Representative Jamieson Greer informed legislators that India has presented its most favorable offer thus far in the ongoing negotiations. This optimism was enhanced by the Asian Development Bank's revised economic projections, which increased India's 2025 GDP growth forecast to 7.2% from 6.5%, following a robust 8.2% growth in the fiscal quarter concluding in September. Despite these positive developments, gains were limited by persistent foreign capital outflows. Concurrently, the Nifty 50 also advanced by 0.3%, with small-cap and mid-cap stocks increasing by 0.7% and 0.3%, respectively. Most sectors reflected positive performances, including metals, autos, banking, and financial services. Noteworthy gains were observed from Bajaj Finserv (1.3%), Adani Ports (1.3%), Kotak Mahindra Bank (1.0%), Tata Steel (1.0%), and NTPC (0.6%).