The SENSEX Index Closes 0.36% Lower

The SENSEX Index fell 281 points or 0.36 percent on Monday to close at 77728 points. Leading the losses are Infosys (-2.83%), Sun Pharmaceuticals (-2.54%) and HCL Tech (-2.32%). Top gainers were Axis Bank (1.36%), Tata Steel (1.36%) and Kotak Mahindra Bank (1.11%).

India’s BSE Sensex closed about 0.4% down at 77,728 on Monday, extending previous session's losses, amid rising crude oil prices and persistent geopolitical tensions in the Middle East. Information technology stocks led the losses, with Infosys (-2.7%), HCL Technologies (-2.5%), Tata Consultancy Services (-1.9%) and Tech Mahindra (-1.8%) among the biggest laggards. Also, FMGC stocks weighed, with Hindustan Unilever falling more than 1%. By contrast, metals and private banks provided some support. Tata Steel advanced 1.5%, Axis Bank rose 1% and HDFC Bank added 0.4%. Reliance Industries gained 0.8% after announcing it has partnered with Rolls-Royce to pursue the design, development, manufacturing and delivery of a sovereign indigenous combat engine for India’s Advanced Medium Combat Aircraft (AMCA) programme.

India’s BSE Sensex fell about 0.5% to 77,643 on Monday, following losses in the previous session amid persistent concerns over elevated crude oil prices and ongoing tensions in the Middle East. Brent crude hovered around $89 a barrel on Monday after rising 4.6% last week, as uncertainty over efforts to end the Iran war raised concerns about global oil supplies. Among individual stocks, Reliance Industries was in focus after announcing plans to work with Britain’s Rolls-Royce to develop and produce an engine for India’s fighter aircraft program, although shares opened 0.4% lower. Voltas fell 2.6% despite reporting a jump in first-quarter earnings, supported by robust air conditioner demand. Meanwhile, PhysicsWallah drew attention after posting a narrower first-quarter consolidated loss of 775.7 million rupees, versus 1.2 billion rupees a year earlier, as revenue climbed 24.4%, with shares rising 6.8%. Other notable laggards were BSE Ltd (-4.2%), Embassy (-2.9%), and Cupid (-2.2%).