Sensex Rebounds on Tech Gains
India’s BSE Sensex rose about 1.1% to 73,552 on Thursday, rebounding from prior session’s losses as strong HCLTech earnings lifted information technology stocks and investor sentiment. IT stocks outperformed the broader market, extending their recent rally on earnings-driven optimism. However, hotter-than-expected US inflation and the prospect of higher interest rates continued to weigh on risk appetite, while elevated oil prices and sustained foreign investor outflows remained key headwinds. Among stocks, IDBI Bank fell about 5.0% after Fairfax Financial Holdings received approval for its $5.56 billion acquisition of a controlling stake in the lender. Meanwhile, Jio Platforms set a price band of 1,065—1,119 rupees per share for its IPO, marking a significant development for India’s equity capital markets. Notable gainers included TCS (2.2%), Infosys (1.9%), HDFC Bank (0.8%), and Bharti Airtel (2.0%).
1% to 73,552 on Thursday, rebounding from prior session’s losses as strong HCLTech earnings lifted information technology stocks and investor sentiment. IT stocks outperformed the broader market, extending their recent rally on earnings-driven optimism. However, hotter-than-expected US inflation and the prospect of higher interest rates continued to weigh on risk appetite, while elevated oil prices and sustained foreign investor outflows remained key headwinds. 56 billion acquisition of a controlling stake in the lender.
Meanwhile, Jio Platforms set a price band of 1,065—1,119 rupees per share for its IPO, marking a significant development for India’s equity capital markets. 0%).