Sensex Edges Higher on Tech Gains
India’s BSE Sensex edged up about 0.1% to 73,307 on Friday, recovering from losses in the previous three sessions as gains in technology stocks, following an overseas sell-off in AI-linked shares, lifted sentiment. However, surging crude oil prices and escalating geopolitical tensions continued to weigh on the broader market. Brent crude climbed to $113.5 a barrel amid heightened Middle East tensions and concerns over potential supply disruptions following Houthi attacks on Saudi Arabia. Elevated oil prices pose risks to India’s import bill, inflation outlook, and corporate margins, keeping investors wary despite the rebound in the benchmark index. All sectors began trading in negative territory, with technology the only sector posting gains. Shares of Infosys, TCS, HCL Tech, and Coforge rose between 1.6% and 3.1%. Meanwhile, notable laggards included Swiggy (-10.8%), State Bank of India (-0.4%), and Netweb (-4.3%). For the week to date, the benchmark is on track for a 1.9% decline.
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India’s BSE Sensex edged up about 0.1% to 73,307 on Friday, recovering from losses in the previous three sessions as gains in technology stocks, following an overseas sell-off in AI-linked shares, lifted sentiment. However, surging crude oil prices and escalating geopolitical tensions continued to weigh on the broader market. Brent crude climbed to $113.5 a barrel amid heightened Middle East tensions and concerns over potential supply disruptions following Houthi attacks on Saudi Arabia. Elevated oil prices pose risks to India’s import bill, inflation outlook, and corporate margins, keeping investors wary despite the rebound in the benchmark index.
All sectors began trading in negative territory, with technology the only sector posting gains. Shares of Infosys, TCS, HCL Tech, and Coforge rose between 1.6% and 3.1%. Meanwhile, notable laggards included Swiggy (-10.8%), State Bank of India (-0.4%), and Netweb (-4.3%). For the week to date, the benchmark is on track for a 1.9% decline.