Sensex slips for second day, down about 0.1%
India’s BSE Sensex edged down about 0.1% to 77,387 on Thursday as selling pressure persisted. Brent crude fell about 0.6% to $87.30 after Iran said it was working with Oman on a Strait of Hormuz agreement.
India’s BSE Sensex edged down about 0.1% to 77,387 on Thursday, extending losses from the previous session as selling pressure persisted despite easing oil prices and gains in global technology stocks.
Brent crude fell about 0.6% to $87.30 a barrel after Iran said it was working with Oman to finalize an agreement concerning the Strait of Hormuz, easing concerns over prolonged supply disruptions.
Technology stocks also declined despite Nvidia’s strong quarterly results, with the US chipmaker reporting more than a doubling in quarterly revenue and projecting third-quarter revenue above Wall Street expectations.
Notable laggards included ICICI (-4.1%), HDFC Bank (-0.9%), Hindustan Copper (-2.6%), Multi Commodity Exchange (-0.8%), and Steel Authority of India (-0.9%).
On the upside, Adani Power (1.8%), Welspun Corp (4.0%), and Kotak Mahindra (2.3%) gained.