Indian stocks rally as foreign investors pour ₹14,975 crore into market
Indian stock markets surged Thursday as foreign institutional investors bought ₹14,975 crore worth of shares, the largest daily purchase since September 2024, driving the Sensex up 2,008.61 points. The rally followed US midterm results that sank oil prices and raised expectations of political gridlock in Washington, reducing risks of sudden policy shocks. Brent crude fell below $95 a barrel, easing inflation concerns and improving India's macroeconomic outlook. Market breadth was positive with 2,411 stocks advancing on the NSE. Bajaj Finance, Shriram Finance and Mahindra & Mahindra led gains, rising up to 7.7%. Analysts noted India's underperformance this year may reverse as the rupee stabilizes and earnings recover.