FX.co ★ Sensex Edges Higher on Tech Gains

India’s BSE Sensex inched up about 0.2% to 74,439 on Friday, extending gains after hitting a four-month high in the previous session, supported primarily by strength in technology shares. Tech Mahindra advanced 6.9% following better-than-expected second-quarter revenue and robust deal wins.

Overall sentiment, however, remained cautious amid continued foreign portfolio outflows. Overseas investors offloaded $555.99 million worth of Indian equities on Thursday, while Brent crude trading near $106 a barrel added to inflation worries. Markets also digested the Securities and Exchange Board of India’s (SEBI) decision to reverse its earlier move on closing auction settlements for expiring derivatives contracts.

Among other key stocks, Jio Financial Services reported a sharp rise in adjusted operating profit driven by growth in its lending business, and HDFC Life Insurance posted higher quarterly earnings as policy sales via parent HDFC Bank recovered. Technology names were broadly higher, with notable gains in TCS (3.3%), Infosys (3.9%), Wipro (4.5%), HCL Tech (1.2%), and LTM (1.9%).