Sensex Rises as Oil Prices Fall
India’s BSE Sensex rose about 0.4% to open at 77,977 on Wednesday, following gains in the previous session, as falling crude oil prices eased concerns over inflation and corporate margins, while hopes of a reopening of the Strait of Hormuz lifted investor sentiment. Brent crude fell about 2.7% to around $86.20 a barrel. Investors, however, remained cautious amid global uncertainty, with markets also tracking US tech stocks ahead of Nvidia’s results and movements in global bond yields. Domestically, investors are weighing signs of a moderation in India’s economic growth, with Q2 GDP data due next week and growth expected to ease to 7.1% from 7.8% in Q1. Markets are also watching signals from the RBI after recent communication on monetary policy and meeting minutes raised questions among investors about the central bank’s policy stance. Notable gainers included Hindustan Copper (2.8%), Netweb (2.0%), Hindustan Zinc (4.2%), Cyient (6.9%), and BSE Ltd (1.6%).
India’s BSE Sensex rose about 0.4% to open at 77,977 on Wednesday, following gains in the previous session, as falling crude oil prices eased concerns over inflation and corporate margins, while hopes of a reopening of the Strait of Hormuz lifted investor sentiment.
Brent crude fell about 2.7% to around $86.20 a barrel.
Investors, however, remained cautious amid global uncertainty, with markets also tracking US tech stocks ahead of Nvidia’s results and movements in global bond yields.
Domestically, investors are weighing signs of a moderation in India’s economic growth, with Q2 GDP data due next week and growth expected to ease to 7.1% from 7.8% in Q1.
Markets are also watching signals from the RBI after recent communication on monetary policy and meeting minutes raised questions among investors about the central bank’s policy stance.
Notable gainers included Hindustan Copper (2.8%), Netweb (2.0%), Hindustan Zinc (4.2%), Cyient (6.9%), and BSE Ltd (1.6%).