Sensex Edges Higher on Tech Stocks
India’s BSE Sensex edged up about 0.2% to 74,319 on Friday, extending gains from the previous session as buying in IT stocks and optimism over corporate earnings helped offset pressure from rising crude oil prices. IT stocks led early gains, supporting the benchmark indices amid improved investor sentiment. Strong corporate earnings also provided some relief, with shares of Trent (5.5%) and InterGlobe Aviation (3.0%) among the stocks drawing attention. However, gains remained limited as rising Middle East tensions and Houthi attacks on Saudi Arabia pushed Brent crude to $116.30, capping gains amid supply concerns. Market participants are looking ahead to quarterly earnings from major companies, including Reliance Industries and Sun Pharmaceutical Industries, for further direction. Leading the gains among technology stocks were TCS, Infosys, HCL Tech, Wipro, and Tech Mahindra, which rose between 1.1% and 1.9%. The benchmark is on track to gain 1.6% for the week and 2.5% for the month.
India’s BSE Sensex edged up about 0.2% to 74,319 on Friday, extending gains from the previous session as buying in IT stocks and optimism over corporate earnings helped offset pressure from rising crude oil prices. IT stocks led early gains, supporting the benchmark indices amid improved investor sentiment. Strong corporate earnings also provided some relief, with shares of Trent (5.5%) and InterGlobe Aviation (3.0%) among the stocks drawing attention. However, gains remained limited as rising Middle East tensions and Houthi attacks on Saudi Arabia pushed Brent crude to $116.30, capping gains amid supply concerns.
Market participants are looking ahead to quarterly earnings from major companies, including Reliance Industries and Sun Pharmaceutical Industries, for further direction. Leading the gains among technology stocks were TCS, Infosys, HCL Tech, Wipro, and Tech Mahindra, which rose between 1.1% and 1.9%. The benchmark is on track to gain 1.6% for the week and 2.5% for the month.