印度股市周三收盘微涨，Sensex指数收于80747点，印度和巴基斯坦之间不断升级的紧张局势部分抵消了人们对全球贸易紧张局势缓解的乐观情绪。印度发起了“Sindoor行动”，针对巴基斯坦各地的9个恐怖营地，以应对4月22日致命的帕哈尔加姆袭击，该袭击造成26人死亡。与此同时，交易员在美联储当天晚些时候公布利率结果之前仍持谨慎态度。在企业方面，英国和印度达成长期渴望的贸易协议后，汽车股和纺织品制造商因出口增长前景而上涨。然而，国防类股下跌了1%。

The Indian stock market ended Wednesday's session marginally up, with the Sensex closing at 80,747, as escalating tensions between India and Pakistan partially offset optimism around easing global trade tensions. India launched “Operation Sindoor,” targeting nine terror camps across Pakistan in response to the deadly April 22 Pahalgam attack that claimed 26 lives. At the same time, traders remained cautious ahead of the Fed's interest rate outcome later in the day. On the corporate front, auto stocks and textile makers jumped on prospects of export growth after UK and India concluded a long-desired trade deal. Defense stocks, however, posted losses of 1%.

周三早盘，印度股市下跌213点，跌幅0.3%，至80399点，Nifty 50指数跌破24350点。这延长了上届会议的损失，此前印度对巴基斯坦和巴基斯坦管理的克什米尔发动了袭击。几乎所有行业都对经济衰退做出了贡献，科技股领跌。交易员在美联储利率决定之前保持谨慎，同时也在关注美国经济前景。限制跌幅的消息是，中国将下调存款准备金率50个基点以支持经济增长，同时将7天反向回购协议的利率下调10个基点。此外，对美国财政部长贝森特和贸易代表格里尔本周在瑞士与中国高级官员即将举行的贸易谈判的乐观情绪有助于防止贸易进一步下滑。当天跌幅最大的是亚洲涂料公司（-1.4%）、Larsen&Toubro公司（-1.2%）、NTPC公司（-1.0%）和太阳制药公司（-1.%）。

Stocks in India fell by 213 points, or 0.3%, to 80,399 in morning trade on Wednesday, with the Nifty 50 declining below 24,350. This extended the losses from the previous session, following Indian strikes on Pakistan and Pakistan-administered Kashmir. Almost all sectors contributed to the downturn, with tech stocks leading the losses. Traders remained cautious ahead of the Fed's interest rate decision, while also monitoring the U.S. economic outlook. Limiting the fall was news that China would cut the reserve requirement ratio (RRR) by 50 bps to support economic growth, while also lowering the rate on seven-day reverse repurchase agreements by 10 bps. Additionally, optimism over upcoming trade talks between U.S. Treasury Secretary Bessent and Trade Representative Greer with China’s top officials in Switzerland this week helped prevent a steeper decline. Among the top losers of the day were Asian Paints (-1.4%), Larsen & Toubro (-1.2%), NTPC (-1.0%), and Sun Pharmaceuticals (-1.0%).

日本媒体报道富士胶片将在印度建半导体材料厂。富士胶片将在印度建立一个半导体材料工厂，以满足不断增长的印度半导体行业的需求，目标是利用正在从中国转移的供应链。

Japanese media reports that Fujifilm will build a semiconductor materials factory in India.Fujifilm to build a semiconductor materials facility in India to cater to the growing Indian semiconductor industry, with the goal of tapping into a supply chain that is shifting away from China.

5月份，印度卢比兑美元汇率升至85以上，为去年11月以来的最高水平，这得益于美元走软，并随着对出口的依赖程度降低了美国激进关税的负面影响，印度资产也随之反弹。卢比也受到有限流出的支撑，因为欧佩克+国家的石油产量增加和美国的增长担忧对原油和燃料价格造成了压力，而原油和燃料是印度进口的大部分。这些发展足以抵消印度储备银行降低利率的前景。最新数据显示，3月份印度通胀率降至五年多来的最低水平，远低于印度储备银行4%的中点目标。此外，印度上一财政年度的国内生产总值从上一时期的8.2%增长了6.5%，迫使央行关注增长问题。

The Indian rupee strengthened past 85 per USD in May, its strongest level since November of last year, benefitting from a weaker dollar and tracking the rally in Indian assets as the lesser dependence on exports lower the negative impact of aggressive tariffs by the US. The rupee was also supported by limited outflows as higher oil output from OPEC+ nations and growth concerns in the US pressured crude oil and fuel prices, which make up most of Indian imports. The developments were enough to offset the outlook of lower interest rates by the Reserve Bank of India. The latest data showed that the Indian inflation rate fell to its lowest in over five years in March, well below the RBI's mid-point target of 4%. Additionally, the Indian GDP grew by 6.5% in the last financial year from 8.2% in the prior period, forcing the central bank to attend to growth concerns.