India’s BSE Sensex closed about 1.2% firmer at 72,472 on Friday, reversing its subdued performance over the previous two sessions, amid bargain-hunting and softer oil prices. Global market sentiment improved after President Donald Trump said the US will not strike Iran before the November 3 midterms and described talks as productive. Tech stocks powered the recovery, led by TCS, which rallied 4.2% after reporting stronger-than-expected Q2 FY27 results. Infosys (3%), HCL Tech (2.8%) and Tech Mahindra (1.4%) also performed solidly. The tech sector had been under pressure amid concerns over the US green-card restrictions and the outlook for technology spending. Gains in banking, financials and FMCG stocks also provided support. Reliance Industries was the only laggard, falling 0.6%, following recent gains. For the week, the index rose about 0.8%.
The Nikkei 225 Index ended virtually flat at 69,031 on Friday, recovering most of its earlier losses after reports indicated that OpenAI expects annualized revenue to reach or exceed $70 billion by year-end. The news eased concerns triggered by earlier reports that the company’s annualized revenue was $20 billion below previously indicated levels as of September. Investors remain focused on whether AI-related revenues can justify the sector’s substantial investment spending, particularly as Japanese companies play a key role in the global AI infrastructure buildout. Equities also drew support from easing bond yields and retreating oil prices.
The Shanghai Composite was little changed to close at 3,813.8 on Friday, while the Shenzhen Component edged up 0.17% to 12,641.9, with both indexes paring earlier losses as investors turned their attention to China-EU trade talks following the Golden Week holiday. European industry groups called for immediate action against unfair Chinese trade practices, warning of risks to EU manufacturing and further job losses. The talks follow three months of discussions over the EU’s goods trade deficit with China and Beijing’s restrictions on rare earth and other critical mineral exports.
