India’s Nifty 50 logs longest winning streak in four months on US trade talk hopes

India’s benchmark Nifty 50 index rose for a seventh straight session on Thursday, its longest daily winning streak in over four months, with optimism over U.S.-India trade talks trumping profit-booking seen in information technology shares.

The Nifty 50 edged up 0.13% to 25,005.5, and the BSE Sensex added 0.15% to 81,548.73.

Thirteen of the 16 major sectors logged gains. The broader small-caps and mid-caps traded flat.

The Nifty and Sensex have risen 1.7% each in seven sessions driven by multiple factors, including recent domestic tax cuts, expectations of a U.S. rate cut and improving sentiment around the trade negotiations.

While equities extended gains, the rupee hit a record low as punitive U.S. tariffs on Indian goods, which kicked in last month, intensified foreign outflows and left it among Asia’s most vulnerable currencies.

“Domestic risks remain limited, while steady domestic institutional and mutual fund inflows and expectations of progress in U.S.-India trade ties are giving markets a strong push,” said Viraj Gandhi, CEO, Samco Mutual Fund.

Indian shares extend winning run as U.S. trade talks, rate cut hopes lift sentiment

“After a year-long pause, stronger earnings and a consumption revival in the second half of FY26, aided by tax breaks, could spark the next leg of the rally.”

The Nifty and Sensex, which touched record highs in September 2024, are still down about 5% from those peaks despite the current rebound.

Oil and gas and energy stocks rose 1.1% and 0.9%, respectively, led by and oil marketing companies such as BPCL, HPCL and Indian Oil on positive brokerage commentaries.

The IT index fell 0.5%, snapping a two-day rally in which it gained 5.5%. Index heavyweight Infosys dropped 1.5% ahead of its board meeting to consider a share buyback.

Among individual stocks, exchange operator BSE and broker Angel One dropped 4.6% and 5.2% following reports that the Indian market regulator may soon propose ending weekly derivatives contracts.