Indian Stocks Rise for Fourth Day as Foreign Buying Hits Year High

Indian stock markets extended gains for a fourth consecutive session on Tuesday, with the Nifty closing 1.58% higher at 23,810.85 and the Sensex up 1.62% at 76,917.85, driven by strong corporate earnings, festival demand, and the highest single-day foreign institutional investor (FII) buying in over a year. FIIs made net purchases of ₹6,837 crore on November 3, the largest since October 2025, while domestic institutional investors sold ₹3,679 crore. The rally was supported by easing crude oil prices, which fell from $108 to $104 overnight before rising slightly to $105.29, and optimism over a potential reduction in long-term capital gains tax. FMCG stocks led gains, with the Nifty FMCG index up 3.65%, boosted by strong results from Marico and Britannia. Bharti Airtel and HDFC Bank contributed nearly half of the ₹2.4 trillion rise in Nifty 50 market value, while the Nifty Capital Markets index jumped 4.53%. Public-sector bank stocks were the worst performers, with the Nifty PSU Bank index down 1.27%. Analysts noted that while near-term sentiment remains positive, profit booking and global developments, including crude prices and geopolitical tensions, could influence market direction ahead of Diwali.