Sensex Advances for 10th Consecutive Session
India’s BSE Sensex advanced around 0.4% to 82,219 on Thursday, marking its tenth straight session of gains, supported by persistent foreign inflows, softer oil prices and improved global sentiment. Brent crude futures dropped more than 1% to $91.80 a barrel on optimism over potential progress in Middle East and Russia-Ukraine peace efforts, providing further support to equities. However, the rally could face near-term resistance from elevated US Treasury yields and stretched valuations, with the 10-year yield hovering around 4.99%. Among stocks, Adani Green Energy, Coforge, LIC and Meesho are likely to attract attention after being added to the MSCI India index, while PI Industries was excluded. Bajaj Finance is also in focus after launching a share sale exceeding $1 billion, while Tata Power reported a nearly 49% increase in second-quarter profit. Financial stocks led the gains, with ICICI Bank, State Bank of India, Bajaj Finance and Kotak Mahindra gaining between 0.9% and 2.5%.
India’s BSE Sensex advanced around 0.4% to 82,219 on Thursday, marking its tenth straight session of gains, supported by persistent foreign inflows, softer oil prices and improved global sentiment. Brent crude futures dropped more than 1% to $91.80 a barrel on optimism over potential progress in Middle East and Russia-Ukraine peace efforts, providing further support to equities. However, the rally could face near-term resistance from elevated US Treasury yields and stretched valuations, with the 10-year yield hovering around 4.99%.
Among stocks, Adani Green Energy, Coforge, LIC and Meesho are likely to attract attention after being added to the MSCI India index, while PI Industries was excluded. Bajaj Finance is also in focus after launching a share sale exceeding $1 billion, while Tata Power reported a nearly 49% increase in second-quarter profit. Financial stocks led the gains, with ICICI Bank, State Bank of India, Bajaj Finance and Kotak Mahindra gaining between 0.9% and 2.5%.