FX.co ★ Sensex Logs Best Day in 2 Weeks, Books Weekly Gain

On Friday, India's BSE Sensex rose approximately 0.9% to close at 82,189, recording its most significant daily advance since May 23 and continuing its upward trend for a third consecutive day. The market was buoyed by an unexpected decision from the Reserve Bank of India to lower the benchmark policy repo rate by 50 basis points to 5.5%, in addition to a 100 basis point cut in the cash reserve ratio to 3%. This policy adjustment spurred a broad-based rally, with particular gains in rate-sensitive sectors such as banking, real estate, automobiles, and consumer durables. Notable performers included Bajaj Finance, which increased by 5%, Axis Bank with a 3.1% gain, IndusInd Bank up by 2.4%, Bajaj Finserv rising by 2.2%, Maruti advancing by 2.6%, and Tata Steel climbing by 2.1%. On the downside, Sun Pharma and Bharti Airtel edged down slightly by 0.4% and 0.1%, respectively. Over the week, the index grew by 0.9%, marking its third consecutive weekly increase.