FX.co ★ India Equities Set to Close Week on High Note

In Friday's morning session, Indian stocks witnessed an upward movement, with an increase of 275 points, or 0.4%, pushing the market index to 76,655. This marks the fifth consecutive day of gains, primarily driven by strong performances in the media and realty sectors. This upward trend has propelled the market to reach its highest levels in six weeks, poised for an approximately 3.8% weekly gain following a decline the previous week. Investors are striving to maintain a bullish outlook, buoyed by robust domestic economic data and expectations of two interest rate cuts by The Fed within the year. However, gains were somewhat capped by a negative session on Wall Street on Thursday. Investor caution prevailed after the central bank decided to hold interest rates steady, adjusted its inflation forecast upward, and moderated its economic growth expectations. Meanwhile, the Nifty 50 index rose by 0.4% to nearly 22,300. Bajaj Finance led the surge with a 2.7% increase, followed by Sun Pharmaceuticals and Adani Ports, both climbing by 1.6%. HCL Tech recorded a 1.1% rise, whereas Infosys saw a decline of 2.8% after Accenture adjusted the lower end of its annual revenue forecast upwards.