Sensex rises for a fifth straight session, closes at 77,301 — highest since late August
Foreign inflows, softer crude and solid earnings lift the index, though it is still about 7% below a year ago.
The BSE Sensex closed about 0.5% higher at 77,301 on Wednesday, its highest level since late August, extending its winning run to five straight sessions.
Inflows from foreign funds, easing crude oil prices and a solid set of quarterly earnings supported sentiment. Lower crude is particularly welcome for India, which imports most of its oil, as it eases pressure on inflation and the rupee — which also steadied on central bank support.
Investors kept a close eye on the US midterm elections, where a strong Democratic showing could challenge President Trump's policy agenda, including on trade.
Despite the rally, the Sensex remains roughly 7% below where it stood a year ago, a reminder of how much ground the market lost over the past twelve months.
