India’s BSE Sensex closed about 0.6% lower at 73,249 on Thursday, its weakest level in more than a week, extending losses for a third consecutive session. Sentiment remained muted as investors weighed the impact of persistently elevated crude oil prices, which threaten to widen India’s import bill, stoke inflation, and pressure corporate margins.
At the same time, RBI policymakers indicated that further rate hikes may still be on the table, while warning against overly aggressive tightening given mounting growth risks. Helping to partially offset the pessimism, foreign investors turned net buyers, purchasing equities worth 10.22 billion rupees on Wednesday, and Jio Platforms’ $3.2 billion IPO was fully subscribed within hours of opening.
Reliance Industries was the session’s biggest drag, shedding 2.6% on profit-taking after a strong rally in the previous session. Eternal slipped 2.2%: despite robust revenue growth and a marked improvement in operating profitability in Q2 FY27, its net profit missed analyst estimates. HDFC Bank and Power Grid also weakened, each declining 1.9%.
