FX.co ★ Sensex Recovers in Early Trade

India’s BSE Sensex climbed about 0.4% to 76,751 in early trading on Wednesday, breaking a two-session losing streak as strong gains in auto stocks buoyed sentiment. Still, overall optimism was tempered by ongoing worries over stalled US–Iran negotiations.

On the corporate front, KPIT Technologies cautioned that its June-quarter dollar revenue and operating profit will decline sequentially, citing softer demand from European automakers. Kotak Mahindra Bank announced it will acquire Deutsche Bank’s retail banking and wealth management businesses in India. Meanwhile, Citi Research upgraded Titan Company, Havells India, and Page Industries to “buy” from “neutral.”

Among the notable gainers were Paisalo (15.1%), Rites (9.1%), MCX (4.2%), Saksoft (3.2%), and Ola Elec (2.7%). On the downside, KPIT fell 14%, Tata Elxsi lost 5.3%, Avenue Supermarts slipped 3.4%, and Ramco Systems declined 1.8%.