The SENSEX Index Closes 0.34% Lower

India’s BSE Sensex closed about 0.3% down at 72,781.9 on Wednesday, reversing the prior session's rally, partly due to profit-booking. Meanwhile, market sentiment was pressured by the renewed increase in oil prices, geopolitical uncertainties and sustained foreign outflows. Foreign portfolio investors extended their selling streak to 13 sessions on Tuesday, taking year-to-date outflows to a record $32.52 billion. Investors also exerted caution ahead of US inflation data, while also monitoring the ongoing earnings season. Among the major laggards, Bajaj Finance fell 2.6%, M&M lost 2.2%, Bajaj Finserv dropped 2%, Eternal declined 1.7% and ICICI Bank slipped 1.5%. Conversely, tech stocks maintained strong performance, led by Infosys, which rose 2.5%, followed by Tech Mahindra (+2.2%), TCS (+1.5%) and HCLTech (+0.6%). The sector attracted strong investor interest following HCLTech’s quarterly profit, which came in above market expectations. FMGC and oil & gas stocks also advanced.

The SENSEX Index fell 252 points or 0.34 percent on Wednesday to close at 72782 points. Leading the losses are Bajaj Finance (-2.58%), Bajaj Finserv (-2.47%) and Mahindra & Mahindra (-2.04%). Top gainers were Nestle India (2.70%), Infosys (2.44%) and Tech Mahindra (2.04%).

India’s BSE Sensex opened largely unchanged to 73,018 on Wednesday, supported by optimism over strong IT earnings, although gains were limited by elevated crude oil prices, persistent foreign fund outflows and geopolitical uncertainties. Meanwhile, Brent crude traded around $107 a barrel as investors assessed supply risks from fighting between Yemen’s Iran-allied Houthis and Saudi Arabia, alongside the prospect of increased diesel supplies from Russia. Among stocks, investors monitored Tata Elxsi following higher quarterly profit, Bharat Electronics after securing orders worth 533 crore rupees, and Transformers & Rectifiers India after more than doubling its quarterly profit year over year. Wipro was also in focus after the company said it does not anticipate a material business impact from the US suspension of the Permanent Labor Certification (PERM) programme. Notable gainers among tech stocks included TCS (2.3%), Infosys (2.2%) and HCL Tech (0.9%).