Indian stocks rally 6 days amid oil dip and inflows
Business
The Indian stock market is having a serious moment: Nifty and Sensex have soared for six days straight, with gains of over 8% and more than 6,150 points.
It's their best run in a year, thanks to cheaper oil, fresh foreign investor money coming in, and hopes for strong company earnings.
Foreign inflows ₹20,835cr into Indian markets
Global crude oil prices have dropped below $94 per barrel, which has eased worries about inflation and boosted confidence.
Plus, after the US midterm elections went to the Democrats, global investors seem more upbeat.
Foreign portfolio investors have poured in about ₹20,835 crore over four consecutive sessions between October 30 and November 4.
Sectors like banking, IT, and autos are seeing big buying. Overall investor mood is pretty optimistic about what's next.