07.11.202505:44:55UTC+00India Stocks Head for 2nd Straight Weekly Loss

The BSE Sensex experienced a decline of 517 points, equivalent to 0.6%, settling at 82,794. This represents the lowest point since October 15 and marked a continuation of losses for the third consecutive session. The drop followed a sluggish performance on Wall Street, particularly impacting stocks linked to artificial intelligence and technology. Investors took the opportunity to secure profits after the significant rally in October, and the persistent outflow of foreign capital further dampened market sentiment. Nevertheless, optimism regarding second-quarter earnings and the potential for a favorable US-India trade deal helped to limit the losses. US President Donald Trump highlighted the positive progress in trade discussions with Prime Minister Modi, suggesting a possible visit to India next year. The majority of sectors experienced declines, particularly the technology sector, which dropped by 1.1%. Among the notable decliners were Bharti Airtel (-4.5%), HCL Tech (-1.5%), State Bank of India (-1.4%), NTPC (-1.35%), and Tech Mahindra (-1.2%). For the week, the index appears to be on track for a 1.4% decline, which would signify a second consecutive week of losses.