Sensex Opens the Week Lower
India’s BSE Sensex edged down about 0.1% to 72,391 on Monday, reversing gains from the previous session, as persistent foreign investor outflows continued to weigh on market sentiment, offsetting support from easing crude oil prices and measures by the Reserve Bank of India to stabilise the rupee. Brent crude fell 1.6% to around $103 per barrel amid expectations of a Russia—Ukraine energy ceasefire. The RBI redirected oil companies’ dollar purchases away from the spot market and tightened FX hedging rules to ease rupee pressure and curb volatility. Among stocks, Avenue Supermarts, the operator of DMart, fell about 3.3% on Monday despite reporting a 7.6% year-on-year increase in standalone net profit to 804 rupees crore. Meanwhile, Mahindra & Mahindra shares rose about 1.1% after it reported a 19.2% year-on-year decline in September-quarter production, while Poonawalla Fincorp rose 4.9% after reporting a fivefold increase in consolidated net profit to 375 rupees crore.
1% to 72,391 on Monday, reversing gains from the previous session, as persistent foreign investor outflows continued to weigh on market sentiment, offsetting support from easing crude oil prices and measures by the Reserve Bank of India to stabilise the rupee. 6% to around $103 per barrel amid expectations of a Russia—Ukraine energy ceasefire. The RBI redirected oil companies’ dollar purchases away from the spot market and tightened FX hedging rules to ease rupee pressure and curb volatility. 6% year-on-year increase in standalone net profit to 804 rupees crore.
9% after reporting a fivefold increase in consolidated net profit to 375 rupees crore.