Record FPI buying in November sends sensex to near 9-month high
November witnessed a remarkable resurgence of foreign portfolio investors in Indian equities, injecting more than Rs 73,200 crore into the market. This significant influx has driven indices like Sensex and Nifty to new heights. Factors such as declining crude prices and encouraging corporate earnings have rejuvenated investor confidence, leading to a total market capitalization that has exceeded…
Mumbai witnessed a surge in foreign investment in Indian equities last month, with FPIs netting over Rs 73,200 crore in eight trading sessions, surpassing the previous record set in December 2023. This influx, coupled with falling crude prices by 21% this month, helped the Sensex reach near a nine-month high, closing at 81,879, or 773 points above the previous high.
The Nifty also gained 9.7% to close at 25,255 points on Wednesday. Indian investors' wealth surged by Rs 36 lakh crore, reaching its highest level of Rs 510.7 lakh crore. Key factors contributing to this positive trend include foreign fund managers reversing their previous trend of withdrawing money from Indian stocks, the US midterm poll results signaling possible resolution to the West Asia conflict, and improved corporate earnings, particularly in Q2FY27.
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