The SENSEX Index Closes 1.02% Higher

India’s BSE Sensex gained ground to close about 1% firmer at 76,991 on Wednesday, reversing yesterday's losses. The easing of crude oil prices and encouraging remarks from the Reserve Bank of India helped offset concerns over potential US rate hikes and weak monsoon rains. Governor Sanjay Malhotra said in an interview that it was too early to discuss rate hikes and that the central bank would continue to closely monitor inflation and global developments before making any decision. Meanwhile, recent data showed monsoon rainfall is running about 43% below average so far. Banks and financials provided the main support after the RBI allowed loans to non-resident Indians against foreign-currency deposits, easing funding constraints. ICICI Bank, HDFC Bank, Axis Bank and Kotak Bank posted gains up to 2.7%. IndiGo surged 4.7% on expectations of improved operational performance. Tech stocks also advanced. On the other hand, NTPC, Tata Steel and Maruti Suzuki were among the major laggards.

The SENSEX Index gained 777 points or 1.02 percent on Wednesday to close at 76978 points. Gains were led by Tech Mahindra (3.22%), Bajaj Finance (2.87%) and Indusind Bank (2.63%).

India’s BSE Sensex rose about 0.3% to 76,456 at the open on Wednesday, recouping earlier losses as investors weighed the benefits of lower crude oil prices against growing expectations of further US interest-rate hikes. Market sentiment remained cautious after the benchmark fell roughly 1.2% in the previous session, pressured by weakness in information technology and metal stocks. Concerns over domestic business activity and monsoon developments also weighed on investor confidence. Among individual stocks, Indian Railway Finance Corporation shares dropped 5.4% following reports of a planned government stake sale, while Wipro drew attention after expanding its cybersecurity partnership initiatives. JPMorgan downgraded HCL Tech, Wipro, and Tata Tech, warning that AI-driven disruption, cautious enterprise spending, and geopolitical uncertainty could keep growth across India's IT sector subdued. Notable gainers were KPR Mill (12.6%), Roto (8.5%), and JSW Infrastructure (4.4%).