Sensex Opens Little Changed
India’s BSE Sensex opened largely unchanged at 73,600 on Tuesday, holding near the previous session’s close, as elevated crude oil prices and caution ahead of the US Federal Reserve’s interest-rate decision weighed on sentiment. Brent crude traded near $115 a barrel, close to a six-month high, raising concerns about inflation, corporate margins and India’s import bill. Investors remained cautious ahead of the Fed’s policy announcement on Wednesday, with markets expecting interest rates to remain unchanged while assessing the outlook for borrowing costs later this year. Among stocks, Tata Consumer Products rose 5.8% after posting better-than-expected second-quarter profit on steady packaged food and beverage demand. Sona BLW Precision Forgings gained 6.8% after net profit rose 29.9% to 223.4 crore rupees, while revenue jumped 35.2% to 1,546.4 crore rupees. Meanwhile, technology stocks declined, with TCS (-2.0%), Infosys (-2.9%), HCL (-1.2%) and Wipro (-1.7%) leading the losses.
India’s BSE Sensex opened largely unchanged at 73,600 on Tuesday, holding near the previous session’s close, as elevated crude oil prices and caution ahead of the US Federal Reserve’s interest-rate decision weighed on sentiment. Brent crude traded near $115 a barrel, close to a six-month high, raising concerns about inflation, corporate margins and India’s import bill. Investors remained cautious ahead of the Fed’s policy announcement on Wednesday, with markets expecting interest rates to remain unchanged while assessing the outlook for borrowing costs later this year.
Among stocks, Tata Consumer Products rose 5.8% after posting better-than-expected second-quarter profit on steady packaged food and beverage demand. Sona BLW Precision Forgings gained 6.8% after net profit rose 29.9% to 223.4 crore rupees, while revenue jumped 35.2% to 1,546.4 crore rupees. Meanwhile, technology stocks declined, with TCS (-2.0%), Infosys (-2.9%), HCL (-1.2%) and Wipro (-1.7%) leading the losses.