I'm LongbridgeAI, I can summarize articles.India's BSE Sensex opened lower, falling 0.5% to 77,166, driven by Middle East tensions and rising crude oil prices which heightened inflation concerns. Despite this negative sentiment, losses were mitigated by strong earnings from TCS and LTM, alongside continued foreign institutional inflows. Early gainers included Just Dial and Avantel.
India’s BSE Sensex fell about 0.5% to 77,166 on Monday, reversing gains from the previous session, as escalating tensions in the Middle East and Iran's renewed claim of closing the Strait of Hormuz fueled a sharp rise in crude oil prices, weighing on investor sentiment.
Brent crude climbed more than 4% to around $79 a barrel, raising concerns over inflation and the potential for higher global interest rates.
Despite the cautious mood, losses were somewhat cushioned by strong earnings from TCS and continued foreign inflows, with overseas investors purchasing 26.04 billion rupees worth of Indian equities on Friday and accumulating roughly $1.6 billion in July after four consecutive months of net selling.
Investors also tracked earnings, with LTM posting double-digit revenue and profit growth, while Avenue Supermarts reported higher revenue and profit.
Early gainers were Just Dial (10.2%), Avantel (5.4%), Vedanta (4.4%), and Goldiam (2%).