Sensex Rebounds on Tech Strength

India’s BSE Sensex rose about 1.1% to 72,367 on Friday, rebounding from steep losses in the previous session that pushed the index to a 32-month low, as IT stocks led a technical rebound. Tata Consultancy Services advanced 5.0% after reporting stronger AI-related revenue and international business growth in the September quarter. However, gains were capped by elevated crude oil prices amid intensifying Middle East tensions and supply concerns stemming from a hurricane approaching the US Gulf Coast. Fresh US restrictions on the green-card programme for major IT firms also raised concerns over staffing costs. Persistent foreign investor outflows and rupee weakness further weighed on sentiment, with foreign portfolio investors selling a net 129.44 billion rupees ($1.3 billion) in Indian equities on Thursday, their largest single-day outflow since May 29. Other notable gainers included Infosys (3.0%), Apollo Hospitals (3.01%), HDFC Bank (1.3%), Hexaware (9.6%), and Cupid (2.6%).