India’s BSE Sensex climbed about 0.7% to 77,449 on Thursday, snapping a four-session losing streak as global bond markets steadied after the US Treasury outlined measures to curb rising borrowing costs. The Treasury said overnight it would double the size of buybacks for long-duration debt in an effort to relieve upward pressure on yields, following the 30-year Treasury yield’s surge earlier this week to its highest level since 2007. The announcement weakened the US dollar and bolstered risk assets worldwide.
Upside in Indian equities, however, was limited by elevated crude oil prices and ongoing geopolitical tensions in the Middle East. On the corporate front, Lohia Corp posted a fourfold increase in profit for the June quarter, with revenue up 59.5%. In the broader market, recently listed IT solutions provider Xtranet Technologies reported higher first-quarter revenue and profit. Among notable movers, Shiprocket gained 6.4%, Behari 7.4%, Netweb 4.9%, Eternal 2.3%, and HDFC Bank 1.0%.
