India’s BSE Sensex advanced about 1.0% to 76,408 on Tuesday, extending its winning streak to a fourth straight session and hovering near its highest level since September 7. The rally was underpinned by easing crude oil prices, robust corporate earnings, and renewed foreign inflows.
Foreign portfolio investors were net buyers of Indian equities on Monday, purchasing shares worth 31.15 billion rupees (about $350 million), helping stabilize the market after a period of persistent outflows. Sentiment was further boosted by SEBI’s proposal to abolish long-term capital gains tax on foreign equity investments, pending government approval.
On the corporate front, Marico rose 6.3% after reporting a 31% year-on-year increase in quarterly net profit, supported by lower copra input costs and steady demand. KRBL gained 11.8% on the back of a 51% rise in profit, while Trident surged 12.3% after posting a 93.1% jump in profit and unveiling a 46.5-billion-rupee expansion plan. VRL Logistics climbed 10% following stronger earnings.
In contrast, KEC International dropped 7.3% after its quarterly profit slumped 81.5%.
