The SENSEX Index Closes 0.01% Higher

India’s BSE Sensex erased early losses to close marginally up at 77,616 on Monday, marking the third session of advances, as tech strength helped offset concerns over renewed hostilities in the Middle East. Foreign inflows also supported the market, with overseas investors purchasing INR 26.04 billion worth of Indian equities on Friday. Buying interest in IT stocks was boosted after Tata Consultancy Services (+5.4%) announced a multi-million-dollar deal with ABB to transform global network operations using AI. The optimism was reinforced by the company’s better-than-expected earnings growth reported last week. HCL Tech surged 5% ahead of its earnings release, with Tech Mahindra (3.3%) and Infosys (3.2%) also advancing firmly. On the other hand, metals. FMCG and pharma stocks faced selling pressure. Tata Steel led losses among stocks, dropping 2.1%, followed by Eternal (-1.6%), IndiGo (-1.3%), Maruti (-1.1%), UltraTech Cement (-1.1%) and BEL (-1%).

The SENSEX Index rose 7 points or 0.01 percent on Monday to close at 77576 points. Leading the gains are Tata Consultancy (5.46%), HCL Tech (5.15%) and Tech Mahindra (3.20%). Top losers were Tata Steel (-2.10%), Nestle India (-1.87%) and UltraTech Cement (-1.43%).

India’s BSE Sensex fell about 0.5% to 77,166 on Monday, reversing gains from the previous session, as escalating tensions in the Middle East and Iran's renewed claim of closing the Strait of Hormuz fueled a sharp rise in crude oil prices, weighing on investor sentiment. Brent crude climbed more than 4% to around $79 a barrel, raising concerns over inflation and the potential for higher global interest rates. Despite the cautious mood, losses were somewhat cushioned by strong earnings from TCS and continued foreign inflows, with overseas investors purchasing 26.04 billion rupees worth of Indian equities on Friday and accumulating roughly $1.6 billion in July after four consecutive months of net selling. Investors also tracked earnings, with LTM posting double-digit revenue and profit growth, while Avenue Supermarts reported higher revenue and profit. Early gainers were Just Dial (10.2%), Avantel (5.4%), Vedanta (4.4%), and Goldiam (2%).