MUMBAI: India’s benchmark indexes ended strongly on Wednesday, boosted by gains in HDFC Bank after its quarterly results, after having spent the day struggling due to worries about earnings moderation and US trade policy.
The Nifty 50 rose 0.57% to finish at 23,155.35, while the BSE Sensex added 0.75% to close at 76,404.99. The indexes opened higher before treading water for most of the day.
That changed in the last hour once HDFC Bank, the heaviest stock on the indexes, rose about 1.5% after posting a third-quarter profit that was largely in line with market estimates.
Still, “relentless selling by foreign investors, worries over corporate earnings and uncertainty over (US President Donald) Trump’s tariff policies have heightened risk aversion in the markets,” said Jaykrishna Gandhi, an analyst at Emkay Global.
Foreign portfolio investors (FPI) have sold Indian stocks and bonds worth $7 billion in January so far.
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