FX.co ★ Equities in India Edge Higher to Begin the Week

The BSE Sensex saw a rebound on Monday morning, climbing 169 points, equivalent to a 0.2% increase, reaching 81,284. This rise comes after a two-session downturn, fueled by traders engaging in bargain hunting following the index's dip to a five-week low last week. Sentiment improved partially due to a modest uptick in U.S. futures, rebounding after a pronounced sell-off on Wall Street on Friday, driven by intensified Middle East tensions and overarching global economic concerns. However, the upward trajectory was somewhat constrained by the rising crude oil prices, which present a challenge for India's import-reliant economy. In other economic news, mixed data out of China—India’s largest trading partner—revealed strong growth in retail sales and a decrease in the jobless rate, although industrial output experienced a slowdown. Early movers ascending on the Sensex included Oil and Natural Gas, with a 0.8% rise, Bharti Airtel at 0.7%, and Larsen & Toubro at 0.6%. Investors were also keeping an eye on India's wholesale inflation figures for May, expected later in the day, especially after April’s rate eased to a 13-month low of 0.85%. Additionally, market participants were keenly anticipating a forthcoming interest rate decision from the U.S. Federal Reserve later in the week.