The SENSEX Index Closes 0.23% Higher

Indian stocks closed slightly higher on Thursday with support from upbeat earnings from auto manufacturers, offsetting the impact of higher energy prices and volatile bond markets. The S&P/BSE Sensex added 0.4% to 77,928 and the NSE Nifty 50 rose 0.3% to 24,317. Mahindra & Mahindra led the gains with a 2.2% jump after delivering strong results in the June quarter. Auto stocks followed to consolidate the sector's upswing, with Maruti Suzuki and Tata Motors both adding 1.6%. In turn, tech shares were mixed following their outperformance yesterday, with Eternal and TCS dropping slightly while Infosys closed flat. Domestic and foreign borrowing costs rose in the longer-end of the curve after the Fed held interest rates but featured dissenters on the hawkish side, while a controversial press conference by Chairman Warsh lifted yields on inflation-protected bonds.

The SENSEX Index rose 181 points or 0.23 percent on Thursday to close at 77835 points. Leading the gains are Mahindra & Mahindra (2.18%), Maruti Suzuki (1.63%) and Tata Motors (1.55%). Top losers were Adani Ports (-3.41%), Eternal Limited (-1.38%) and UltraTech Cement (-1.23%).

India’s BSE Sensex opened little changed at 77,692 on Thursday after posting gains in the previous session, as investors weighed the US Federal Reserve's decision to leave interest rates unchanged and assessed the outlook for global monetary policy. Cautious sentiment prevailed after the Fed signaled persistent inflation risks, while market participants also monitored rising US Treasury yields and volatile crude oil prices. Technology stocks remained supportive after leading Wednesday's rally, with optimism over continued artificial intelligence-driven demand boosting the sector. Meanwhile, investors kept an eye on corporate earnings, with Eicher Motors, Dabur, and Bajaj Housing Finance among companies reporting quarterly results, while Sun Pharma also remained in focus on regulatory developments. Among notable gainers included SML Mahindra (15.2%), Redington (10.7%), Balkrishna (9.8%), and Moil (9.3%). Meanwhile, KPIT (-6.6%), WAAREE (-5.5%), and Diamond Power (-5.0%) declined.