Indian benchmarks rose 0.84% and 0.95%, reaching their highest closes since February 26, as foreign investors bought nearly $6 billion of shares in November. Financials and autos led gains.
The Nifty 50 rose 0.84% to 25,255.05 and the Sensex gained 0.95% to 81,879.4, their highest closes since February 26. The indexes have gained nearly 10% so far in November, while foreign investors have bought nearly $6 billion of Indian shares, their biggest monthly purchase since September 2024.
Thirteen of 16 major sectors rose. Banks gained 1.8%, with HDFC Bank up 1.1% and State Bank of India up 1.8%; auto stocks advanced 2.1% on optimism over festival-season sales and easing US-Iran tensions. Small-caps gained 1.6% and mid-caps rose 0.8%.
Easing crude prices and caution about global AI investments bolstered expectations for foreign inflows. Brent hovered around $93 a barrel after falling to a two-month low of $89.16 in the previous session. Bernstein raised its December Nifty 50 target to 26,100 from 25,000; HSBC and Citi also shared the optimism.
