India’s BSE Sensex rose around 0.3% to 74,531 on Thursday, though gains were capped by a weaker rupee, elevated crude prices, and continued caution over the US Federal Reserve’s policy outlook. Investors weighed persistently high oil prices against easing supply concerns after Saudi Arabia offered additional cargoes.
The rupee remained under pressure, with market participants closely watching the 96-per-dollar level as higher oil prices and ongoing foreign portfolio outflows continued to drag on the currency. Sentiment was also shaped by the Fed’s first interest rate increase in over three years, lifting the policy rate to 3.75%–4.00%, with officials signalling another hike later this year.
Attention in the primary market stayed fixed on the National Stock Exchange’s $2.3 billion initial public offering, open through September 21 at a price band of 1,700–1,785 rupees per share, implying a valuation of about $46 billion for the bourse.
Sector-wise, information technology stocks were the main laggards, slipping about 0.4% amid concerns over weakening US demand for Indian software services. eMudhra fell 1.8% and PB Fintech dropped 4.3%, while Pine Labs gained 2.2% and Netweb added 0.3%.
