Sensex rebounds nearly 2,900 points as foreign investors pour money
The Sensex just pulled off a huge comeback, climbing nearly 2,900 points in three days.
This big jump is mostly thanks to foreign investors pouring money back into Indian stocks, which has lifted the mood across the market and pushed up major companies.
FIIs put in about ₹14,725cr recently
Foreign institutional investors (FIIs) have been on a buying spree: just on November 3, they invested nearly ₹6,837 crore.
In fact, over the past few weeks, FIIs have put in about ₹14,725 crore overall.
This steady flow of cash has helped erase earlier losses and comes alongside good news like strong company earnings and cheaper oil prices.
Geojit strategist says FIIs reversed stance
Market analysts are feeling upbeat about what's next.
Dr V K Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, said, "There is a distinct change in the market mood now. This has changed the market construct, too. The principal factor that has changed the market mood is the sudden reversal of the FII stance toward India."
As long as FIIs keep investing and local confidence stays high, more gains could be on the way.
The Sensex gained 1,225.07 points on November 3.