Indian shares inch higher to close at 8-month high as crude oil drops
INDA•Indian benchmarks closed at their highest levels in more than eight months, with the Nifty 50 up 0.23% to 25,044.65 and the Sensex up 0.13% to 81,106.65. Brent crude fell 1% to about $97 a barrel, and foreign investors have bought more than $4.1 billion of Indian shares so far in November.
1. Benchmarks reach eight-month highs
Indian shares edged higher on Monday, with the Nifty 50 and Sensex posting their highest closes since February 27, 2026. Markets will be closed for Diwali on Tuesday and reopen Wednesday.
2. Inflows support the rally
The benchmarks gained about 10.5% over seven sessions through Friday, their longest winning streak this year, supported by foreign inflows and falling oil prices. Foreign investors have bought more than $4.1 billion of Indian shares so far in November, their largest monthly inflows since September 2024.
3. Sector moves diverge
Thirteen of 16 major sectors ended higher. Pharma rose 1.7%, while information technology fell 1.2%; financials gained 0.8%. Divi's Laboratories rose 4.2% and Gland Pharma gained 4.9% after upbeat quarterly results.
