27.01.202604:56:49UTC+00India Equities Post Modest Gains in Early Trade

On Tuesday morning, the BSE Sensex climbed by 289 points, or 0.4%, reaching 81,826. This rise occurred as traders opted for profit-taking after the index fell to a 14-week low following a holiday. The market's positive outlook was bolstered by the prospects of a trade agreement between India and the European Union, along with anticipation that the United States might revoke tariffs related to India's Russian oil imports. US Treasury Secretary Scott Bessent hinted on Friday at the possibility of removing an additional 25% tariff on India due to a significant decrease in Indian imports of Russian oil. Nonetheless, ongoing foreign capital outflows, mixed third-quarter earnings, a weaker rupee, and global trade uncertainties limited the extent of the gains. The rally was largely driven by advances in the metals, technology, and banking sectors, with significant upturns seen in Axis Bank (3.6%), UltraTech Cement (2.8%), Adani Ports (2.8%), JSW Steel (1.7%), and NTPC (1.2%).