16.12.202511:42:58UTC+00Indian Stocks Fall for 2nd Day

The BSE Sensex in India concluded Tuesday's session approximately 0.6% lower, settling at 84,680. This decline continues the downward trend observed from the previous trading day, driven by ongoing foreign fund outflows and uncertainty concerning the timing and details of a prospective trade agreement between India and the United States. Concurrently, market participants analyzed preliminary PMI data and awaited significant US employment statistics expected later, which could provide insights into the Federal Reserve's interest rate trajectory. Domestically, India’s business activity registered growth in December; however, it showed signs of deceleration for the fourth consecutive month. Among the most significant fall-offs, Axis Bank dropped 5%, influenced by a Citi brokerage warning that net interest margins might face continued pressure into the December quarter. Other notable decliners included Eternal, HCL Technologies, Tata Steel, and Bajaj Finserv, with losses ranging from 1.9% to 4.6%. Conversely, Bharti Airtel saw a 1.6% increase after Morgan Stanley upgraded its rating to "overweight" from "equal-weight," highlighting its strong growth potential.