Sensex Steady at 2-Month High
India’s BSE Sensex rose about 0.5% to 77,293 on Wednesday, extending its gains to a fifth consecutive session and reaching its highest level since late August, as investor sentiment was supported by strong corporate earnings and sustained buying interest. However, investors remained cautious ahead of the US midterm election results, which could influence global market sentiment, trade expectations and geopolitical developments. Rising crude oil prices also remained a concern for India, a major oil importer. Brent crude hovered around $103 per barrel after hitting a nearly four-week low, amid hopes of progress towards ending the conflicts in Ukraine and Iran. Among stocks in focus, NSE reported a 23% jump in Q2 profit, Bata India posted a 30.4% increase in profit, while Equitas Small Finance Bank appointed Balaji Nuthalapadi as interim CEO. Financial stocks led the gains, with notable gainers including HDFC Bank (3.6%), ICICI Bank (2.7%), Bajaj Finance (1.1%) and NSE (1.4%).
India’s BSE Sensex rose about 0.5% to 77,293 on Wednesday, extending its gains to a fifth consecutive session and reaching its highest level since late August, as investor sentiment was supported by strong corporate earnings and sustained buying interest. However, investors remained cautious ahead of the US midterm election results, which could influence global market sentiment, trade expectations and geopolitical developments. Rising crude oil prices also remained a concern for India, a major oil importer. Brent crude hovered around $103 per barrel after hitting a nearly four-week low, amid hopes of progress towards ending the conflicts in Ukraine and Iran.
Among stocks in focus, NSE reported a 23% jump in Q2 profit, Bata India posted a 30.4% increase in profit, while Equitas Small Finance Bank appointed Balaji Nuthalapadi as interim CEO. Financial stocks led the gains, with notable gainers including HDFC Bank (3.6%), ICICI Bank (2.7%), Bajaj Finance (1.1%) and NSE (1.4%).