29.08.202505:31:00UTC+00Sensex Gains Slightly, Set for 2nd Straight Monthly Drop

India's stock market saw an uptick on Friday morning, with shares rising by 94 points, or 0.1%, to reach 80,175. This rally wiped out the losses from the previous two days, predominantly fueled by the banking and financial services sectors. The BSE Sensex was buoyed by a positive trading session in the US, which was underpinned by robust economic data and continual investor interest in AI-related stocks. Despite a volatile session, the index recovered from a three-week low as investors awaited GDP figures for the April–June quarter, scheduled to be released later today. Nonetheless, the possibility of new US tariffs limited any additional upward momentum. Early trades saw notable gains with Kotak Mahindra climbing 1.4%, ITC up 1.3%, and UltraTech Cement rising by 1.2%. However, for the week, the index is poised for a 1.4% dip, marking its first weekly decline in three weeks, and is also on track for a 1.2% decrease for the month. This would represent the second consecutive monthly decline, exacerbated by the US's imposition of an additional 25% tariff on Indian goods following New Delhi's purchase of Russian oil, effectively bringing total duties to 50%.