Global technology stocks are undergoing a sharp correction, but India’s stock market has charted a completely different course.
Ahead of the special Diwali trading session on November 8, Indian stocks had risen for seven consecutive trading days, gaining more than 10% in total.
On November 8, the Nifty 50 edged down 0.18% to close at 24,986 points, while the Sensex fell 0.04% to close at 80,999 points.
More notably, foreign investors bought about 459.6 billion rupees’ worth of Indian stocks over the previous five trading days, equivalent to approximately $48.9 billion.
The rally was driven mainly by falling oil prices, improving corporate earnings, and a renewed inflow of overseas funds.
India is one of the world’s major oil importers, so lower energy prices help ease import costs and inflationary pressures.
While U.S. technology stocks have faced selling pressure, India’s market has rebounded, thanks to its own economic structure and investment flows.
Global stock markets are not all moving in the same direction.
$CL $BZ $BTC
Ahead of the special Diwali trading session on November 8, Indian stocks had risen for seven consecutive trading days, gaining more than 10% in total.
On November 8, the Nifty 50 edged down 0.18% to close at 24,986 points, while the Sensex fell 0.04% to close at 80,999 points.
More notably, foreign investors bought about 459.6 billion rupees’ worth of Indian stocks over the previous five trading days, equivalent to approximately $48.9 billion.
The rally was driven mainly by falling oil prices, improving corporate earnings, and a renewed inflow of overseas funds.
India is one of the world’s major oil importers, so lower energy prices help ease import costs and inflationary pressures.
While U.S. technology stocks have faced selling pressure, India’s market has rebounded, thanks to its own economic structure and investment flows.
Global stock markets are not all moving in the same direction.
$CL $BZ $BTC