Stocks in India Hit 4-week High

The SENSEX Index rose 483 points or 0.66 percent on Monday to close at 73607 points. Leading the gains are Eternal Limited (2.93%), Adani Ports (2.72%) and Kotak Mahindra Bank (2.42%). Top losers were Bajaj Finance (-0.96%), HDFC Bank (-0.81%) and Nestle India (-0.74%).

India’s BSE Sensex edged up about 0.4% to 72,933 at Monday’s open, recovering after four consecutive sessions of losses, although gains were tempered by elevated crude oil prices, geopolitical tensions and caution ahead of the US Federal Reserve’s policy decision. Positive corporate earnings provided some support to sentiment. Brent crude traded around $115 a barrel, while ongoing attacks on Saudi Arabia kept supply concerns elevated. Investors expect the Fed to hold rates steady this week, though persistent inflation has kept a potential December hike on the radar. Among stocks, Kotak Mahindra Bank rose 2.2% and Dr. Reddy’s Laboratories gained 3.4% after both reported better-than-expected quarterly profits, supported by stronger loan demand and resilient domestic sales, respectively. Meanwhile, Infosys fell 0.9% following reports that it had lowered its annual revenue growth forecast amid weakness in North America and concerns over AI-driven disruption.

India’s BSE Sensex closed about 0.2% down at an over one-week low of 73,124 on Friday, marking the fourth straight session of losses and posting a 2.1% weekly drop. Market sentiment continued to be dominated by concerns over rising oil prices, geopolitical tensions and uncertainty regarding future developments. High oil prices pose risks to India’s import bill, inflation outlook, and corporate margins. Adding to the pressure, foreign institutional investors sold Indian equities worth 3.46 billion rupees on October 22. Meanwhile, flash PMI data showed Indian private sector growth accelerated to a four-month high in October. Selling remained widespread across sectors, with metal and consumer durables stocks among the biggest laggards. Tata Steel led the losses, falling 3.2%, followed by Adani Ports, which declined 3.03%. Meanwhile, Eternal recorded the strongest performance, gaining roughly 4%. Larsen & Toubro advanced 1.3%, Reliance Industries rose 1.2%, and TCS increased by 1%.