Indian shares closer to peak levels as foreign inflows likely help

MUMBAI: Indian shares shook off early nerves and inched closer to record highs on Wednesday, underpinned possibly by foreign inflows and a rally in information-technology stocks.

The Nifty 50 climbed 0.55 percent to 26,052.65, while the BSE Sensex rose 0.61 percent to 85,186.47, placing both benchmarks less than 1 percent below the lifetime peaks hit in September 2024.

Thirteen of the 16 major sectors advanced. Mid-caps rose 0.2 percent, while small-caps fell 0.4 percent.

India is likely attracting incremental foreign flows as global sentiment softens on concerns around stretched valuations in artificial-intelligence-linked stocks, two analysts said.

“We are seeing a resurgence in equity markets, driven by strong festive consumption, stabilising earnings, and a clear revival in foreign investor appetite,” said PL Asset Management.