Indian stocks likely to open higher as crude oil falls
The Indian stock market is likely to open higher on Thursday, thanks to a big dip in crude oil prices, which just hit a two-month low.
This drop comes after the Democrats's win in the US midterm elections, calming global markets.
GIFT Nifty futures are signaling a strong start for the Nifty 50 index.
Foreign inflows into India ₹72.84 billion
Foreign investors have jumped back in, buying ₹72.84 billion worth of Indian shares on Wednesday, the fourth straight day of inflows.
With both Nifty 50 and Sensex up 5.6% over five sessions, things are looking up.
Founder and CEO of research advisory firm HST Wealth Hariselvan Radhakrishnan says, "Unlike the earlier gradual decline (in oil prices), the magnitude of this move can materially improve India's near-term macro and earnings outlook if sustained."