Sensex Recovers After 2-Day Fall
India’s BSE Sensex edged up about 0.3% to 72,740 on Wednesday, recovering two sessions of losses as easing oil prices and improving Middle East export activity lifted sentiment, despite continued uncertainty over the lack of a US-Iran peace agreement. Brent crude rose 1.1% to around $103.7 a barrel after a sharp decline the previous session, while US Treasury yields fell as traders scaled back October rate-hike bets following comments from a Fed official that policymakers had time to assess incoming data. Among stocks, Power Mech Projects gained about 3.8% after reportedly securing a 5.49 billion-rupee order from Adani Group’s Moxie Power Generation. TCS (1.8%), HFCL (5.0%), and Sterlite Tech (5.0%) also gained. Foreign investors sold 99.8 billion rupees ($1.04 billion) of Indian equities on Tuesday, their biggest daily outflow in about four months, taking September selling to $2.7 billion and year-to-date net sales to $26.75 billion. The benchmark remains down about 5.6% this month.
3% to 72,740 on Wednesday, recovering two sessions of losses as easing oil prices and improving Middle East export activity lifted sentiment, despite continued uncertainty over the lack of a US-Iran peace agreement. 7 a barrel after a sharp decline the previous session, while US Treasury yields fell as traders scaled back October rate-hike bets following comments from a Fed official that policymakers had time to assess incoming data. 49 billion-rupee order from Adani Group’s Moxie Power Generation. 0%) also gained.
75 billion. 6% this month.