Sensex Edges Higher on Tech Gains

Sensex Edges Higher on Tech Gains

India’s BSE Sensex edged up around 0.2% to 74,439 on Friday, after reaching a four-month high in the previous session, led by gains in technology stocks.

Tech Mahindra rose 6.9% on better-than-expected second-quarter revenue and strong deal wins.

However, sentiment remained fragile amid foreign outflows, with overseas investors selling $555.99 million worth of Indian shares on Thursday, while Brent crude near $106 a barrel stoked inflation concerns.

Markets also assessed the Securities and Exchange Board of India’s (SEBI) reversal of its decision on closing auction settlements for expiring derivatives contracts.

Among other stocks in focus, Jio Financial Services reported a sharp increase in adjusted operating profit on lending growth, while HDFC Life Insurance posted higher quarterly profit as policy sales through parent HDFC Bank recovered.

Other notable gainers among technology stocks included TCS (3.3%), Infosys (3.9%), Wipro (4.5%), HCL Tech (1.2%), and LTM (1.9%).