MUMBAI: Bullish momentum dominated domestic stock markets on Thursday morning as benchmark equity indices extended their winning trajectory, powered by relentless Foreign Institutional Investor (FII) capital infusions and a softening in international crude oil prices.
The 30-share BSE Sensex advanced 166.44 points in early deals to reach 82,013.58, consolidating firmly above the key 82,000 threshold. Simultaneously, the broader 50-share NSE Nifty gained 55.65 points to quote at 25,316.55, sustaining nine-month highs.
Among the primary frontliners on the Sensex pack, heavyweights including Bajaj Finance, Bajaj Finserv, ITC, State Bank of India, ICICI Bank, and Eternal emerged as major gainers. Conversely, selective profit-booking restrained counters such as Mahindra & Mahindra, Sun Pharma, UltraTech Cement, and Hindustan Unilever.
Market sentiment received strong tailwinds from aggressive overseas portfolio flows. Institutional exchange filings revealed that foreign institutional investors purchased net domestic equities worth a massive ₹12,563.33 crore on Wednesday alone, bringing aggregate November FII inflows to a staggering ₹65,735 crore.
“The strong rally in Indian equities—with Nifty gaining over 9.5 percent in November—is fundamentally anchored by vigorous institutional buying. A confluence of resilient Q2 corporate earnings performance and macroeconomic relief stemming from softening global crude benchmarks, with Brent easing over 1.1 percent to $91.75 per barrel, continues to fuel investor optimism,” noted V.K. Vijayakumar, Chief Investment Strategist at Geojit Investments Ltd.
In broader regional trade across Asia, mixed sentiment prevailed as Tokyo’s Nikkei 225, Seoul’s Kospi, and Hong Kong’s Hang Seng dipped marginally, whereas Shanghai Composite edged higher. Overnight across Wall Street, US indices closed firmly in the green, led by tech-heavy Nasdaq advancing 1.6 percent and the S&P 500 rising 1.31 percent.
Published by True Roots Media