Overseas investors have poured more than $4.1 billion into Indian equities so far in November, marking the country’s largest monthly foreign inflows since September 2024.
That capital surge has been a central force propelling both the Nifty 50 and Sensex to their strongest closing levels since February 27, 2026, on Monday.
The Sensex (BSE: SENSEX) gained 0.13% to settle at 81,106.65, while the Nifty 50 added 0.23%, finishing at 25,044.65, as markets consolidated after a powerful multi-session advance.
The two benchmarks had already climbed roughly 10.5% across seven consecutive sessions through last Friday, representing the longest winning streak Indian equities have recorded this year.
Three forces drove that rally: sustained foreign buying, a meaningful retreat in global crude oil prices, and the unwinding of positions tied to the global artificial intelligence trade.
Brent crude futures slipped 1% to approximately $97 per barrel on Monday, offering further relief to India, which is heavily dependent on energy imports.
The decline in crude followed remarks by U.S. President Donald Trump, who indicated he was highly unlikely to authorize new military strikes against Iran while diplomatic talks to resolve the conflict remain ongoing.
Sector performance was broadly positive, with 13 of 16 major industry groups closing in the green, led by a 1.7% gain in pharmaceuticals and a 0.8% rise in financials.
Information technology was a notable exception, sliding 1.2%, while individual pharma stocks stood out sharply, with Gland Pharma surging 4.9% and Divi’s Laboratories climbing 4.2% following strong quarterly earnings from both companies.
Global brokerages have also added fresh support to the rally, reinforcing sentiment at a time when the earnings season is providing stock-specific catalysts across the market.
Pabitro Mukherjee, deputy vice president of research at Bajaj Broking, offered a measured near-term view, saying, “After the recent sharp rally, some consolidation cannot be ruled out at higher levels and stock-specific action will continue to remain in focus in the near term.”
Mukherjee added that the ongoing earnings season will be the key trigger for further directional movement in Indian equities.
