FX.co ★ Sensex Finishes on Positive Note, Still Posts Weekly Loss

India’s BSE Sensex closed about 0.5% higher at 76,515 on Friday, snapping a four-session losing streak, as easing crude oil prices and diminished expectations of further US Fed rate hikes underpinned sentiment. Fed Governor Christopher Waller signaled on Thursday that rates could be kept unchanged if upcoming data continue to show moderating inflation pressures.

Nonetheless, ongoing geopolitical tensions in the Middle East and increased volatility following India’s new closing-auction mechanism kept investors on edge.

Buying was strongest in metals, financial services, private banks, and oil & gas counters. Tata Steel led the advance with a 2.9% gain, followed by Reliance Industries (+1.6%), Bajaj Finance (+1.5%), Trent (+1.3%), and Adani Ports (+1.3%). Among major lenders, HDFC Bank climbed 1.3%, while Kotak Mahindra Bank, UltraTech Cement, and Titan rose 1.2%, 1.1%, and 1%, respectively.

On the downside, Bharti Airtel and HCL Technologies each declined 1.2%. Eternal slipped 1.1%, while Asian Paints and TCS lost 0.5% apiece. For the week, the Sensex still recorded a loss of roughly 1%.