Benchmark indices began the session on a strong note, despite amid persistent inflation concerns, firm crude oil prices and uncertainty over the trajectory of US interest rates. Previously, BSE Sensex and NSE Nifty50 had ended lower after profit-taking, while higher wholesale inflation added to the domestic market backdrop.
Overseas cues remained weak, with a technology-led selloff weighing on Asian equities and South Korea’s KOSPI extending its losing streak. The prospect of further Federal Reserve tightening also remained a concern for emerging-market assets, against a backdrop of sustained foreign investor selling in Indian equities.
Crude prices continued to reflect competing supply and shipping risks. Currency markets, meanwhile, were focused on the RBI’s support measures, while domestic investors awaited Wipro’s quarterly results.
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