Home / Business and Economy / Indian Stocks Climb on Earnings, Await Fed Cues Amid Trade Deal Uncertainty
Indian Stocks Climb on Earnings, Await Fed Cues Amid Trade Deal Uncertainty
30 Jul
Summary
- Indian markets open higher, boosted by strong Larsen & Toubro earnings
- Investors cautious ahead of U.S. Federal Reserve's policy decision
- Delayed India-U.S. trade deal weighs on investor sentiment
Indian equity markets began Wednesday on a positive note, with the benchmark Sensex and Nifty indices rising over 0.19% each. The upward movement was fueled by strong quarterly results from infrastructure major Larsen & Toubro, which reported a 30% year-on-year jump in consolidated net profit.
However, the market's gains were constrained as investors exercised caution in anticipation of the U.S. Federal Reserve's upcoming policy decision. Uncertainty surrounding the delayed trade agreement between India and the U.S. also weighed on investor sentiment. India is preparing to face higher U.S. tariffs on some of its exports as a temporary measure, as it holds off on fresh trade concessions ahead of Washington's August 1 deadline.
Despite the mixed trading environment, shares of L&T emerged as the top gainer on the Sensex, rising over 4% in early trade. Investors will closely watch the Fed Chair's comments for cues on inflation and the economic outlook when the central bank announces its policy decision later today.
