empty

07.08.202604:34:04UTC+00Sensex Retreats as Financials Drag

India’s BSE Sensex slipped about 0.4% to 78,692 at the open on Friday, giving back gains from the previous two sessions as weakness in financial stocks and caution over rising crude prices and mounting Middle East tensions weighed on sentiment. Losses in financials more than offset support from steady foreign fund inflows.

Brent crude rose above $83 a barrel on fears of possible shipping disruptions in the Strait of Hormuz, stoking inflation concerns for the oil-importing economy. Financials were among the worst performers, led by Bajaj Finance (-3.9%), Bajaj Finserv (-3.2%), and Shriram Finance (-1.4%).

Despite the pullback, the benchmark index remained on course for a second consecutive weekly advance of around 0.8%, underpinned by continued buying from foreign institutional investors.

In corporate earnings, Britannia Industries declined after quarterly profit missed estimates amid higher fuel and shipping expenses, while Life Insurance Corporation reported a 23% year-on-year increase in quarterly profit, driven by improved margins.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In August we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback