21.08.202511:08:14UTC+00Sensex Sees 6th Session of Gains

India's BSE Sensex concluded Thursday with a modest gain of 0.2%, reaching a close of 82,000.7, marking its sixth consecutive day of upward movement. This rally was primarily supported by significant contributions from major financial stocks and Reliance Industries. Positive sentiments were fueled by optimism regarding GST reforms and strong PMI performance. However, potential gains were tempered by investor caution preceding the Jackson Hole symposium and uncertainties related to possible US tariffs on Indian exports and the ongoing Russia-Ukraine peace discussions. On the economic data front, preliminary reports indicated that India's private sector in August expanded at its swiftest pace since records began in December 2005. This growth was driven by increased manufacturing activity and a remarkable expansion in services. Among equities, Bajaj Finserv emerged as a top performer, surging over 1% following Jefferies' coverage initiation, featuring a ‘buy’ recommendation and a target price of INR 2,420. ICICI Bank and Bajaj Finance also advanced, buoyed by expectations of GST relief on insurance premiums. Reliance saw a 0.9% rise as JP Morgan maintained its ‘overweight’ stance on the stock.