Indian stocks post longest winning streak in nearly 5 months on FPI inflow hopes

Indian equities extended gains on Wednesday, with the Nifty 50 advancing 0.63% to 23,960.6 and the Sensex rising 0.5% to 77,301.4. Business Recorder reported that both benchmarks have climbed about 5.6% across five sessions, as hopes of foreign fund buying supported sentiment and investors watched the US midterm election outcome.

Foreign investors purchased $821 million of Indian shares since November began, reducing their net withdrawals for the year to $30.59 billion. Most sectors advanced, while the Nifty IT index fell 1.5%; analysts cited possible caution around US political change, profit-taking and fund shifts, alongside concerns that a Democratic victory could slow AI investment. Brent crude also lost 1% to $102.5 per barrel as markets awaited Washington’s next step regarding the US-Israeli war on Iran.