The SENSEX Index Closes 0.10% Higher

India’s BSE Sensex pared early gains to end marginally up at 77,100.5 on Thursday, extending prior session's advance, as investors reduced positions in late trade ahead of a long weekend. Market sentiment continued to be supported by the ongoing pullback in crude oil prices amid signs of progress in US-Iran talks and improved traffic in the key Strait of Hormuz. Buying activity was concentrated in banking and automobile stocks, while IT and metals lagged. IndiGo (+4.6%), Mahindra & Mahindra (+4.2%) and Maruti (+3.8%) were among the top gainers.. Banks continued to benefit from the RBI’s decision to allow loans against foreign currency deposits. SBI and ICICI Bank gained 1% each, Kotak Mahindra Bank rose 0.7% and HDFC Bank added 0.4%. On the flip side, Power Grid (-2.4%), BEL (-1.7%), Tech Mahindra (-1.7%), Infosys (-1.4%) and Bharti Airtel (-1.4%) posted the biggest losses. For the week, the index rose 0.4%. The stock market will be shut on Friday, June 26, in observance of Muharram.

The SENSEX Index rose 81 points or 0.10 percent on Thursday to close at 77072 points. Leading the gains are Mahindra & Mahindra (3.85%), Maruti Suzuki (3.81%) and Nestle India (1.97%). Top losers were Power Grid (-2.20%), Tech Mahindra (-1.49%) and Bharti Airtel (-1.46%).

India’s BSE Sensex rose about 0.5% to 77,376 in early trading on Thursday, extending gains from the previous session, as easing crude oil prices and improving global risk sentiment supported investor appetite. Market sentiment was buoyed after Brent crude fell back to levels seen before the recent Iran-related supply concerns, reducing pressure on India's import bill and inflation outlook. Financial stocks remained in focus after the RBI signaled that it was premature to discuss interest-rate hikes and introduced measures aimed at supporting liquidity. Investors also monitored corporate developments, including regulatory approval for ICICI Bank to raise its stake in its insurance unit and management changes at Life Insurance Corporation of India, which announced that its CFO would step down effective July 14. Among early gainers, Relaxo surged 12.9%, Ramco Systems gained 8.1%, and HFCL advanced 5.0%, while Mahindra & Mahindra and Shriram Finance rose 2.5% and 2.0%, respectively.