Business & Finance
India Reclaims Spot Among World’s Five Biggest Stock Markets as Rally Extends
Key Points
India Reclaims Spot Among World’s Five Biggest Stock Markets Good morning... I’m Samie Modak in Mumbai, where bullish milestones are piling up as stocks extend their rally. The benchmark Nifty 50 closed at its highest level in more than eight months on Wednesday, and has now surged almost 14% since a recent low on Oct. 8.
India Reclaims Spot Among World’s Five Biggest Stock Markets
Good morning...
I’m Samie Modak in Mumbai, where bullish milestones are piling up as stocks extend their rally.
The benchmark Nifty 50 closed at its highest level in more than eight months on Wednesday, and has now surged almost 14% since a recent low on Oct. 8. The gains have also helped India reclaim a spot among the world’s five biggest stock markets, as we write below.
Foreign inflows continue to be a key driver as Indian stocks stage a sharp rebound following months of underperformance versus Asian peers. Global funds have bought a net $6 billion of shares this month through Nov. 9. Traders will be watching October consumer price inflation data and earnings from companies including Oil India, Hindustan Aeronautics, Vodafone Idea and Ola Electric on Thursday.
Globally, the turmoil at Nvidia and the AI trade remains a key focus. The stock sank in extended trading Wednesday as investors grappled with the possibility of the company without Chief Executive Officer Jensen Huang at the helm. US stock index futures are down early in Asia Thursday while a gauge of regional equities is trading slightly higher.