Indices hit new 52-week highs on revival in foreign inflows

BULL RUN

- ANANYA GROVER & MAHESH NAYAK

THE EQUITY BENCHMARKS hit their new 52-week highs on Thursday, amid a revival in foreign inflows and corporate earnings.

On Thursday, both the Nifty 50 and Sensex, after touching their 52-week high of 26,246.65 and 85,801.70, respectively, pared some gains to close the day 0.5% higher. Both the indices were 0.2% away from all-time highs reached in September 2024.

“Talks of a US-India deal nearing conclusion have also acted as a catalyst for the market,” said Sandeep Raina, head of research at Nuvama Professional Clients Group. He added that broader index results exceeded expectations, providing comfort to investors, along with a reduction in FII selling in cash segments compared to the past two-three months. In October, FPIs became net buyers at ₹11,146.34 crore after three months of negative flows. So far in November, FPIs are net buyers to the tune of ₹3,348.43 crore.