Indian Markets Rise for Third Day: FII Inflows and Soft Crude Oil Prices Boost Sentiment

The Indian stock market inched higher for the third consecutive session after the key benchmark equity indices–Sensex and Nifty– ended marginally higher on Thursday. Sustained foreign fund inflows and lower crude oil prices have been the key triggers for the past few sessions. 

BSE Sensex, the 30-share index, closed at 81,911.01, up 31.61 points, or 0.04 per cent. Nifty50, the NSE’s index, rose  44.30 points, or 0.18 per cent, to end at 25,299.35.

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Foreign Institutional Investors (FIIs) and lower crude rates drove investor sentiment. As per exchange data, FII bought equities worth Rs 12,563.33 crore on Wednesday, according to exchange data. Meanwhile, Brent crude hovered around USD 92.50 per barrel.

"Indian equities traded near flat as buying in financials and realty offset profit-taking in IT, FMCG and automobiles following the recent sharp rally. Strong foreign inflows remained the key support, reinforcing a large-cap financial rotation rather than broad index chasing. Mid and small-caps nevertheless outperformed, signalling firmer underlying risk appetite despite muted benchmarks," Vinod Nair, Head of Research, Geojit Investments Ltd, said.

Softer crude provided macro relief, though global technology volatility and a hotter-than-expected US inflation print kept global yields and rate expectations in focus, limiting scope for broader rerating, he added.

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