Sensex closes about 0.5% higher, ending four-day losing streak
India’s BSE Sensex closed about 0.5% up at 76,515 on Friday, halting a four-day losing streak. Easing oil prices and reduced Fed rate-hike expectations helped, alongside sector strength in metals, financial services and oil & gas.
India’s BSE Sensex closed about 0.5% up at 76,515 on Friday, halting a four-day losing streak, supported by easing oil prices and reduced Fed rate-hike expectations.
Fed Governor Christopher Waller on Thursdat favored keeping rates unchanged if incoming data confirms moderatinginflation pressures.
Meanwhile, persistent geopolitical tensions in the Middle East and heightened volatility following India’s new closing-auction mechanism kept investors cautious.
Metals, financial services, private banking and oil & gas shares witnessed strong buying interest.
Tata Steel led the gains with a 2.9% rise, followed by Reliance Industries (+1.6%), Bajaj Finance (+1.5%), Trent (+1.3%) and Adani Ports (+1.3%).
HDFC Bank added 1.3%, while Kotak Mahindra Bank, UltraTech Cement and Titan rose 1.2%, 1.1% and 1%, respectively.
On the losing side, Bharti Airtel and HCL Technologies fell 1.2% each.
Eternal declined 1.1%, while Asian Paints and TCS lost 0.5% each.