Sensex Edges Lower at Open
India’s BSE Sensex edged down around 0.1% to 74,278 on Friday, retreating from a four-month high as broad-based profit-taking offset IT gains. Tech Mahindra rose 4.9% on better-than-expected second-quarter revenue and strong deal wins, while Wipro fell after bookings hit an almost four-year low. Sentiment remained fragile amid foreign outflows, with overseas investors selling $555.99 million in Indian shares on Thursday, and Brent crude near $106 a barrel stoking inflation concerns. Markets also assessed the Securities and Exchange Board of India’s (SEBI) reversal of its closing auction settlement decision for expiring derivatives contracts. Among other stocks in focus, Jio Financial Services reported sharply higher adjusted operating profit on lending growth, while HDFC Life Insurance posted higher quarterly profit as policy sales through parent HDFC Bank recovered. Notable laggards were BSE (-2.2%), ICICI Bank (-0.4%), Persistent Systems (-4.3%), and Reliance (-1.6%).
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India’s BSE Sensex edged down around 0.1% to 74,278 on Friday, retreating from a four-month high as broad-based profit-taking offset IT gains. Tech Mahindra rose 4.9% on better-than-expected second-quarter revenue and strong deal wins, while Wipro fell after bookings hit an almost four-year low. Sentiment remained fragile amid foreign outflows, with overseas investors selling $555.99 million in Indian shares on Thursday, and Brent crude near $106 a barrel stoking inflation concerns. Markets also assessed the Securities and Exchange Board of India’s (SEBI) reversal of its closing auction settlement decision for expiring derivatives contracts.
Among other stocks in focus, Jio Financial Services reported sharply higher adjusted operating profit on lending growth, while HDFC Life Insurance posted higher quarterly profit as policy sales through parent HDFC Bank recovered. Notable laggards were BSE (-2.2%), ICICI Bank (-0.4%), Persistent Systems (-4.3%), and Reliance (-1.6%).