Indian stock SENSEX remains high for the first time in 3 weeks

India's stock price rose 385 points (0.5%) to 74,606.1 in Thursday morning trading and hit a three-week high, mainly driven by the banking sector, oil and gas, financial services, and tech stocks.

BSE Sensex rose for 5 consecutive days, and Nifty 50 surpassed 22,700 in response to Nvidia's strong quarterly earnings report. It followed Wall Street's S&P and Nasdaq's overnight rise.

While growth in domestic factory activity continues to be strong, the performance of the private sector in May raised sentiment in response to private sector surveys showing that the private sector continues to be strong, mainly supported by the service sector which grew the most in 4 months.

The rise was suppressed by the fact that hawkish FOMC minutes suggested further monetary tightening against the backdrop of concerns about inflation.

Stocks that initially rose in price include Axis Bank (2.4%), BPCL (1.8%), Larsen & Toubro (1.7%), Eicher Motors (1.6%), State Bank of India (1.6%), and Bharti Airtel (1.4%).