Sensex Pauses Rally
India’s BSE Sensex closed almost flat at 81,911 on Thursday, paring early gains amid volatile trading but remaining near its highest level since February. Investors booked profits following a nine-session rally, which had been supported by sustained foreign fund inflows, softer oil prices and solid corporate earnings. Meanwhile, attention shifted to the release of India's October retail inflation data for fresh cues on the interest-rate outlook. Sectoral performance was mixed, with strong buying in heavyweight financials offseting losses in autos, tech and FMGC stocks. Non-bank lender Bajaj Finance rose 3.3% and was the standout performer, after announcing a share sale of over $1billion to institutional investors.
India’s BSE Sensex closed almost flat at 81,911 on Thursday, paring early gains amid volatile trading but remaining near its highest level since February. Investors booked profits following a nine-session rally, which had been supported by sustained foreign fund inflows, softer oil prices and solid corporate earnings. Meanwhile, attention shifted to the release of India's October retail inflation data for fresh cues on the interest-rate outlook. Sectoral performance was mixed, with strong buying in heavyweight financials offseting losses in autos, tech and FMGC stocks.
Non-bank lender Bajaj Finance rose 3.3% and was the standout performer, after announcing a share sale of over $1billion to institutional investors.