Sensex Retreats as Financials Drag

India’s BSE Sensex fell about 0.4% to 78,692 at the open on Friday, reversing gains from the previous two sessions as financial stocks weighed and investors turned cautious amid rising crude oil prices and escalating Middle East tensions. Financials led the declines, offsetting support from sustained foreign fund inflows. Brent crude climbed above $83 a barrel on concerns over potential shipping disruptions through the Strait of Hormuz, fueling inflation worries for the oil-importing nation. Financial losses were led by Bajaj Finance (-3.9%), Bajaj Finserv (-3.2%), and Shriram Finance (-1.4%). Even so, the benchmark remained on track for a second straight weekly gain of about 0.8%, supported by continued foreign institutional investor buying. Among earnings, Britannia Industries fell after missing quarterly profit estimates due to higher fuel and shipping costs, while Life Insurance Corporation posted a 23% rise in quarterly profit on improved margins.





