Indian shares log biggest gains in seven months on oil slide, foreign flows

Indian equities recorded their strongest daily advance in seven months on Thursday, with the Nifty 50 and Sensex each gaining 2.4%, to 24,536.6 and 79,310.01, respectively. Business Recorder reported that both indexes have climbed more than 8% over six sessions, although they remain down 6.1% and 6.9% for 2026.

The rally followed a fall in oil prices and a large foreign purchase of Indian shares, worth 72.84 billion rupees ($769.65 million) on Wednesday, the biggest single-day inflow since October 2025. Financial and auto shares rose 4% and 4.1%, while Indian IT stocks advanced 2.4%; upstream oil producers ONGC and Oil India fell 2.1% and 4%. The report also cited the US midterm result and reduced pressure on technology shares as factors behind improved sentiment.