Corporate profit beats lift investor sentiment as crude costs pressure broader emerging-market equities.
Indian equities advanced after a series of better-than-expected earnings reports offset concerns over rising oil prices. The Nifty 50 index rose 0.8% in early trading, led by gains in financials and IT sectors, which posted profit growth above analyst estimates.
Earnings for the June quarter surpassed consensus forecasts by an average of 6%, marking the third consecutive quarter of positive surprises. Last year’s comparable period saw a 4% miss, highlighting improved corporate resilience amid inflationary pressures.
Investors remain cautious as Brent crude hovers near USD 90 per barrel, raising input costs for energy-dependent sectors. However, strong domestic demand continues to support corporate margins.