Sensex Rises to 6-Week High
India’s BSE Sensex rose about 1.2% to 75,323 on Monday, extending its gains to a third straight session and reaching its highest level since mid-September, as easing crude oil prices, foreign investor buying and strong corporate earnings boosted sentiment. Brent crude fell to around $111 a barrel from a six-month high of $118, easing concerns over imported inflation. Corporate earnings also supported sentiment, with Reliance Industries' quarterly net profit jumping 40.6%, Jio Platforms' profit rising 13.7%, and Bharat Electronics reporting a 19.7% increase in net profit alongside 26.5% revenue growth, with its order book stood at 68,717 crore rupees. Notable gainers included Reliance (6.6%), Bharti Airtel (0.9%), Jio Platforms (1.0%) and Welspun Living (7.0%). Meanwhile, investors will also monitor the final HSBC Manufacturing PMI for October, due later in the day, with the reading forecast at 54.8, compared with 55.1 in the previous month.
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India’s BSE Sensex rose about 1.2% to 75,323 on Monday, extending its gains to a third straight session and reaching its highest level since mid-September, as easing crude oil prices, foreign investor buying and strong corporate earnings boosted sentiment. Brent crude fell to around $111 a barrel from a six-month high of $118, easing concerns over imported inflation. Corporate earnings also supported sentiment, with Reliance Industries' quarterly net profit jumping 40.6%, Jio Platforms' profit rising 13.7%, and Bharat Electronics reporting a 19.7% increase in net profit alongside 26.5% revenue growth, with its order book stood at 68,717 crore rupees.
Notable gainers included Reliance (6.6%), Bharti Airtel (0.9%), Jio Platforms (1.0%) and Welspun Living (7.0%). Meanwhile, investors will also monitor the final HSBC Manufacturing PMI for October, due later in the day, with the reading forecast at 54.8, compared with 55.1 in the previous month.