India’s BSE Sensex opened nearly flat at 73,018 on Wednesday, supported by optimism over robust IT earnings. Upside, however, was capped by elevated crude oil prices, continued foreign fund outflows, and lingering geopolitical uncertainties.
Brent crude hovered around $107 per barrel as investors weighed supply risks stemming from clashes between Yemen’s Iran-backed Houthi forces and Saudi Arabia, as well as the potential for increased diesel exports from Russia.
On the stock-specific front, investors tracked Tata Elxsi after it reported higher quarterly profits; Bharat Electronics following fresh order wins totaling 533 crore rupees; and Transformers & Rectifiers India, which more than doubled its quarterly profit year-on-year. Wipro was also in focus after the company stated it does not expect any material impact on its business from the US suspension of the Permanent Labor Certification (PERM) program.
Among technology names, notable gainers included Tata Consultancy Services (up 2.3%), Infosys (up 2.2%), and HCL Technologies (up 0.9%).
