India’s BSE Sensex gained about 0.7% to 77,051 at the open on Thursday, recovering some ground after posting its sharpest single-session decline in three months a day earlier, although gains remained tempered by renewed tensions in the Middle East that have lifted crude oil prices. Foreign portfolio investors provided some support to the market, remaining net buyers despite Wednesday’s sell-off. Meanwhile, investors are awaiting results from Tata Consultancy Services, one of the first major blue-chip companies to report, for clues on the health of corporate earnings. Meanwhile, Tata Steel reported an 11% year-over-year increase in crude steel production, while Phoenix Mills posted a 32% rise in first-quarter portfolio consumption, offering some encouraging signs from the corporate sector. Notable gainers included Unichem Lab (20%), Kalyan Jewellers (10%), Jindal Drilling (8.5%), and Aequs (6.9%). On the downside, Reliance fell 2.6%, followed by Polycab (-2.1%), and Infosys (-2%).

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