Sensex Rebounds on Tech Gains
India’s BSE Sensex rose about 0.9% to 72,567 on Tuesday, rebounding from losses in the previous session, led by gains in the technology sector, although investors remained cautious amid inflation concerns, elevated crude oil prices, and geopolitical uncertainty. India’s retail inflation rose to 5.54% in September, approaching the Reserve Bank of India’s 6% upper tolerance limit and raising concerns about the central bank’s monetary policy outlook. Higher oil prices continue to pose risks to India’s import bill, inflation outlook, and corporate profitability. Meanwhile, the rupee strengthened to 95.77 per US dollar on Monday following RBI measures aimed at easing pressure on the currency market. Among stocks, HCL Tech’s Q2 net profit rose 21.2%, although the company cautioned about annual revenue growth amid AI disruption and geopolitical uncertainty. Leading the gains among technology stocks were HCL Tech (3.9%), TCS (4.4%), Infosys (1.7%), and Persistent Systems (1.0%).
9% to 72,567 on Tuesday, rebounding from losses in the previous session, led by gains in the technology sector, although investors remained cautious amid inflation concerns, elevated crude oil prices, and geopolitical uncertainty. 54% in September, approaching the Reserve Bank of India’s 6% upper tolerance limit and raising concerns about the central bank’s monetary policy outlook. Higher oil prices continue to pose risks to India’s import bill, inflation outlook, and corporate profitability. 77 per US dollar on Monday following RBI measures aimed at easing pressure on the currency market.
2%, although the company cautioned about annual revenue growth amid AI disruption and geopolitical uncertainty. 0%).