Sensex Edges Higher at Open
India’s BSE Sensex edged up about 0.3% to 73,465 at the open on Thursday, recovering from the previous session’s losses as investors weighed the US Federal Reserve’s decision to hold interest rates steady against elevated crude oil prices and a mixed corporate earnings outlook. Brent crude traded at around $114—$115 a barrel, raising concerns about inflation, the rupee, and corporate costs. Among stocks in focus, Hero MotoCorp’s quarterly profit missed estimates due to rising costs, while Vedanta’s net profit more than doubled on higher volumes and firm metal prices. United Spirits’ profit fell 2%, Meesho narrowed its quarterly loss, and PNB Housing Finance reported a 6% increase in profit on the back of loan growth. Meanwhile, Jio Platforms made a strong market debut on Wednesday, listing at a 21.4% premium to its IPO price. Notable gainers included Jio Platforms (3.5%), Reliance (1.5%), Birlasoft (9.7%), Infosys (0.9%), and TCS (0.6%).
India’s BSE Sensex edged up about 0.3% to 73,465 at the open on Thursday, recovering from the previous session’s losses as investors weighed the US Federal Reserve’s decision to hold interest rates steady against elevated crude oil prices and a mixed corporate earnings outlook. Brent crude traded at around $114—$115 a barrel, raising concerns about inflation, the rupee, and corporate costs. Among stocks in focus, Hero MotoCorp’s quarterly profit missed estimates due to rising costs, while Vedanta’s net profit more than doubled on higher volumes and firm metal prices.
United Spirits’ profit fell 2%, Meesho narrowed its quarterly loss, and PNB Housing Finance reported a 6% increase in profit on the back of loan growth. Meanwhile, Jio Platforms made a strong market debut on Wednesday, listing at a 21.4% premium to its IPO price. Notable gainers included Jio Platforms (3.5%), Reliance (1.5%), Birlasoft (9.7%), Infosys (0.9%), and TCS (0.6%).