Sensex Climbs to Near Three-Month High
India’s BSE Sensex climbed about 2.0% to 78,845 on Thursday, extending its winning streak to a sixth consecutive session and reaching its highest level since early August, as falling crude oil prices, renewed foreign investor buying and improving global sentiment boosted demand for domestic equities. The gains came after Brent crude prices fell 1% to $93.50 a barrel, following an 8.7% slump in the previous session. Foreign institutional investors added to the positive momentum, purchasing Indian shares worth 7,284 crore rupees ($769.65 million) on Wednesday, signalling renewed overseas interest in domestic equities. Investors also welcomed an improvement in geopolitical sentiment following Democratic gains in the US midterm elections, amid hopes of progress towards ending the US-Israeli war on Iran. Financial and technology stocks were among the biggest contributors to the rally, with notable gainers included HDFC Bank (2.5%), BSE (4.0%), TCS (2.5%), and Infosys (3.2%).
India’s BSE Sensex climbed about 2.0% to 78,845 on Thursday, extending its winning streak to a sixth consecutive session and reaching its highest level since early August, as falling crude oil prices, renewed foreign investor buying and improving global sentiment boosted demand for domestic equities. The gains came after Brent crude prices fell 1% to $93.50 a barrel, following an 8.7% slump in the previous session. Foreign institutional investors added to the positive momentum, purchasing Indian shares worth 7,284 crore rupees ($769.65 million) on Wednesday, signalling renewed overseas interest in domestic equities.
Investors also welcomed an improvement in geopolitical sentiment following Democratic gains in the US midterm elections, amid hopes of progress towards ending the US-Israeli war on Iran. Financial and technology stocks were among the biggest contributors to the rally, with notable gainers included HDFC Bank (2.5%), BSE (4.0%), TCS (2.5%), and Infosys (3.2%).