16.09.202504:38:07UTC+00India Stocks Rise to Near 8-Week High

On Tuesday morning, Indian equities surged by 345 points or 0.4% to reach 82,131, recovering from the previous session's losses and marking their highest point since July 24. This upward movement was fueled by positive sentiment around US trade discussions with China and India. Mirroring a strong performance on Wall Street overnight, the BSE Sensex was lifted by anticipated Federal Reserve interest rate cuts and significant progress in US-China trade talks. Additionally, domestic factors contributed to the upbeat mood, as Monday's data revealed a record low unemployment rate in August alongside a narrowed trade deficit. The Nifty 50 also climbed by 0.4%, breaking the 25,150 threshold. Small-cap and mid-cap stocks experienced increases of 0.6% and 0.3%, respectively. Most sectors flourished, with the auto sector leading gains at 0.7%. Noteworthy performers included Mahindra & Mahindra (up 1.2%), NTPC (1.2%), Axis Bank (1.1%), Kotak Mahindra Bank (1.0%), and Adani Ports (0.9%).