Indian Shares Rally On Foreign Demand

India’s NSE index rose as much as 1.2 percent to a record high, and the benchmark BSE index hit its record for a second consecutive session, as foreign investors bet big in a country that just months ago was gripped by market turmoil.

The broader NSE’s all-time high of 6,477.55 points, surpassed its previous high of 6,415.25 hit on Dec. 9, although the benchmark BSE got there first, hitting a record high on Thursday and again on Friday.

Foreign investors are driving the rally, sparking strong gains in the rupee as well.

On Thursday foreign investors posted their biggest daily purchases since Dec. 19, amounting to a net 12.73 billion rupees ($208 million), and marking a 15th consecutive buying session.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza