Sensex Rebounds on IT Gains
India’s BSE Sensex rose about 0.8% to 74,401 on Wednesday, rebounding from the previous session’s losses as optimism over IT earnings lifted technology stocks, while investors tracked quarterly results and the Jio Platforms IPO. The $3.2 billion IPO of Reliance Industries’ digital subsidiary opened for subscription on Wednesday, testing appetite for large public offerings. Among stocks in focus, Bajaj Finance reported a 28.7% year-on-year increase in quarterly profit, while Hindustan Zinc’s profit more than doubled on higher metal prices. L&T Technology Services also posted higher revenue and profit, with an upbeat outlook for the second half of fiscal 2027. Meanwhile, elevated oil prices remained a risk to sentiment, with Brent crude rising to around $110 a barrel amid escalating Middle East supply concerns and a drawdown in US crude inventories. Notable gainers among technology stocks included TCS (2.7%), Infosys (3.4%), HCL (1.9%), and Tech Mahindra (1.7%).
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India’s BSE Sensex rose about 0.8% to 74,401 on Wednesday, rebounding from the previous session’s losses as optimism over IT earnings lifted technology stocks, while investors tracked quarterly results and the Jio Platforms IPO. The $3.2 billion IPO of Reliance Industries’ digital subsidiary opened for subscription on Wednesday, testing appetite for large public offerings. Among stocks in focus, Bajaj Finance reported a 28.7% year-on-year increase in quarterly profit, while Hindustan Zinc’s profit more than doubled on higher metal prices. L&T Technology Services also posted higher revenue and profit, with an upbeat outlook for the second half of fiscal 2027.
Meanwhile, elevated oil prices remained a risk to sentiment, with Brent crude rising to around $110 a barrel amid escalating Middle East supply concerns and a drawdown in US crude inventories. Notable gainers among technology stocks included TCS (2.7%), Infosys (3.4%), HCL (1.9%), and Tech Mahindra (1.7%).