Sensex Closes Higher, Posts Strong Weekly Gain
India’s BSE Sensex closed about 0.6% up at 74,729.3 on Friday, the highest level since September 23 and extending gains for the second session. Strong corporate earnings and tempered bets on US rate hikes supported market sentiment, while elevated crude prices and relentless foreign fund outflows remained a concern. Markets also assessed the Securities and Exchange Board of India’s (SEBI) reversal of its decision on closing auction settlements for expiring derivatives contracts. The tech sector was the standout performer, with Tech Mahindra, Infosys and TCS leading gains after better-than-expected quarterly results. For the week, the index advanced 3.1%, posting its strongest weekly performance in six months.
India’s BSE Sensex closed about 0.6% up at 74,729.3 on Friday, the highest level since September 23 and extending gains for the second session. Strong corporate earnings and tempered bets on US rate hikes supported market sentiment, while elevated crude prices and relentless foreign fund outflows remained a concern. Markets also assessed the Securities and Exchange Board of India’s (SEBI) reversal of its decision on closing auction settlements for expiring derivatives contracts. The tech sector was the standout performer, with Tech Mahindra, Infosys and TCS leading gains after better-than-expected quarterly results.
For the week, the index advanced 3.1%, posting its strongest weekly performance in six months.