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Workers are silhouetted against the setting sun at the Coastal Road Project construction site in Mumbai. India is not the new China, and the emerging…
India's equity benchmarks, the Nifty and Sensex, reached new highs as they climbed over 1% each for the third consecutive session. Financials, automobiles, and IT shares led the surge. The market capitalisation of BSE-listed firms also hit a record high. Foreign portfolio investors (FPIs) were net buyers for the third straight session, with FPIs and domestic institutional investors (DIIs) collectively contributing to the market's gains. India's strong economic outlook and attractive investment opportunities are attracting global attention, particularly as economic activity in China has slowed.
Indias equity benchmarks soared over 1% each to fresh highs on Friday, extending their record-breaking run for the third session in a row, tracking overnight gains on Wall Street. The Nifty closed above 19,000 and the Sensex settled above 64,000 for the first time, led by financials, automobiles and IT shares.