FX.co ★ Sensex Falls for 3rd Day

On Tuesday, India's BSE Sensex concluded a turbulent trading session slightly down at 82,101.1, marking its lowest point since mid-September and signifying a third consecutive decline. The downturn was largely driven by setbacks in consumer goods and IT stocks, though sectors such as automobiles, banking, and metals offered some balance. Investor sentiment was adversely affected by foreign fund outflows and concerns over increased U.S. H-1B visa fees, alongside ongoing uncertainties regarding India-US trade negotiations. Preliminary data indicated a slowdown in India's private sector growth for September, easing from August's record levels, with both manufacturing output and service activities showing signs of moderation. Key stock performers included Tech Mahindra (-2.1%), Trent (-2%), UltraTech Cement (-1.9%), Hindustan Unilever (-1.8%), Asian Paints (-1.4%), Eternal (-0.9%), and ITC (-0.8%), which were significant decliners. Conversely, Axis Bank emerged as a leader in gains, climbing 2.2% after HSBC reaffirmed a "buy" recommendation and increased its price target to 1,340 rupees from 1,270 rupees, driven by a positive earnings outlook.