09.10.202504:48:47UTC+00Indian Stocks Edge Higher in Early Trade

In morning trading on Thursday, the BSE Sensex advanced by 70 points, marking a 0.1% increase to reach 81,844. This rise interrupted the losses incurred in the previous trading session. The index received a significant boost from the pharmaceutical and healthcare sectors, which rose by 1.2% and 1.1% respectively. This surge followed the announcement by the Trump administration that it does not intend to impose tariffs on generic drugs imported from other countries. The technology sector also exhibited an uptick of 0.4%, driven by the announcement of a substantial $1.3 billion chip investment in India by SoftBank-backed Graphcore, alongside anticipation of key quarterly earnings reports. This positive movement aligned with gains observed on Wall Street the previous night, fueled by strong performances in the tech sector and increasing optimism about potential further rate cuts by the Federal Reserve this year. Nonetheless, gains were moderated by setbacks in automotive and banking stocks. Caution prevailed among traders as they awaited the earnings report from TCS, expected after the market's closure today. Early in the session, prominent gainers included Tata Steel, rising by 2.5%, HCL Tech, up by 1.5%, and Sun Pharmaceutical, which increased by 1.3%.