India’s BSE Sensex ended about 0.3% higher at 75,415 on Friday, rebounding from a weak previous session and reflecting cautious optimism in global markets over a possible resolution to the Middle East conflict. However, worries over elevated crude prices and continued foreign portfolio outflows persisted. Overseas investors kept trimming exposure to Indian financials in the first half of May, with cumulative outflows already exceeding the total for the entire previous calendar year.
Banking and financials led sectoral gains, driven by Axis Bank (up 2.5%), ICICI Bank (up 1.8%), and HDFC Bank (up 1%). Consumer discretionary and FMCG counters also lent support, with Asian Paints advancing 1.6% and Hindustan Unilever adding 1.1%. In contrast, Sun Pharma was the session’s biggest loser, even though it reported quarterly earnings that exceeded profit estimates.
