FX.co ★ Sensex Hits 8-Month High

India’s BSE Sensex climbed about 0.7% to 79,853 on Friday, extending its winning run to a seventh straight session and reaching its highest level since early March. The rally was underpinned by robust foreign portfolio inflows and a decline in crude oil prices.

Foreign investors purchased roughly ₹15,000 crore (about $1.6 billion) of Indian equities on Thursday, marking their largest single-day net buying in nearly six years and lifting total inflows to around $4 billion over the past 10 sessions.

Brent crude slipped below $100 per barrel, easing concerns over inflation and India’s oil import bill. Sentiment was further supported by expectations that a Democratic sweep in the US midterm elections could help accelerate a resolution to the US–Iran standoff.

Still, risks persist from global weakness in technology shares and ongoing concerns over stretched AI-related valuations. At the same time, SEBI’s proposal for tax relief to foreign investors could provide an additional boost to overseas inflows.

Among the notable gainers were ICICI Bank (up 1.4%), HDFC Bank (1.1%), M&M (4.3%), and Infosys (1.6%). For the week, the benchmark index is on track to post a 7.1% advance.