The SENSEX Index Closes 0.82% Higher

India’s BSE Sensex closed about 0.8% firmer at 77,537.7 on Thursday, ending a four-day losing streak, led by financials and IT stocks. Investors found some relief from easing pressure on global bond yields following US Treasury's surprise intervention, despite elevated oil prices and geopolitcal uncertainty. Meanwhile, foreign investors extended their buying activity on Wednesday, with provisional data showing net purchases of 4.1 billion rupees, their third buying session in four. Most listed companies advanced, led by gains in Eternal (2.3%), Kotak Mahindra Bank (1.7%), ITC (1.6%), Bajaj Finance (1.5%), Axis Bank (1.5%), UltraTech Cement (1.2%) and Infosys (1.2%). Tata Steel (-0.4%), IndiGo (-0.2%) and HCL Tech (-0.2%) bucked the trend as the only decliners.

The SENSEX Index rose 628 points or 0.82 percent on Thursday to close at 77538 points. Leading the gains are Eternal Limited (2.26%), Kotak Mahindra Bank (1.90%) and Bajaj Finance (1.56%). Top losers were Indusind Bank (-1.35%), Nestle India (-0.53%) and Tata Steel (-0.47%).

India’s BSE Sensex rose about 0.7% to 77,449 on Thursday, rebounding from a fourth consecutive session of losses as global bond markets steadied after the US Treasury announced steps to bring down rising borrowing rates. The US Treasury said overnight it would double buyback sizes for long-duration debt, seeking to ease upward pressure on yields after the 30-year Treasury yield climbed to its highest level since 2007 earlier this week. The move helped push the dollar lower and supported risk assets globally. However, gains in Indian equities were capped by elevated crude oil prices and persistent tensions in the Middle East. On the corporate front, Lohia Corp reported a four-fold jump in profit for the June quarter, while revenue rose 59.5%. In the broader market, newly listed IT solutions firm Xtranet Technologies reported higher first-quarter revenue and profit. Notable gainers included Shiprocket (6.4%), Behari (7.4%), Netweb (4.9%), Eternal (2.3%), and HDFC Bank (1.0%).