Sensex Rebounds, Led by Financials

India’s BSE Sensex rose about 0.7% to 77,557 at the open on Wednesday, rebounding from losses in the previous session as softer-than-expected US inflation data lifted global risk appetite and boosted financial stocks. Financial shares led the rally, helping offset weakness in information technology stocks, which tracked overnight losses in global tech names after a cautious outlook from IBM weighed on sentiment. Among financial stocks, Axis Bank, State Bank of India, Shriram Finance, and IDBI Bank gained between 1.8% and 3.6%. However, gains remained capped by renewed geopolitical tensions in the Middle East, which pushed Brent crude prices higher. Stocks in focus included L&T Technology after reporting an 11.5% rise in quarterly revenue, while Tata Elxsi shares fell about 4.9% even after reporting an 18.2% increase in first-quarter profit. Wipro and Infosys may remain under pressure after their US-listed shares fell overnight following weak IBM earnings.




