Indian shares rise as foreign inflows show signs of revival after US trade deal
Indian equity benchmarks climbed in early trading on Tuesday, extending recent gains as investor sentiment improved on signs of a recovery in foreign portfolio inflows following a trade agreement with the United States. The Nifty 50 was up 0.34% at 25,955.2, while the BSE Sensex added 0.35% to 84,361.9 as of 10:03 a.m. IST. The blue-chip indexes have gained more than 3% in the six sessions since New Delhi and Washington announced a long-awaited trade deal. “The announcement of India-U.S. trade deal and its immediate impact on foreign fund flows have brought back some confidence in the market. There is higher willingness among investors to make risky bets in the broader market,” said Sunny Agrawal, head of fundamental equity research at SBICAPS Securities. Foreign investors purchased Indian shares worth 22.55 billion rupees ($248.6 million) on Monday, as per provisional data and have bought $1.3 billion of Indian equities so far in February, after three consecutive months of selling. Wider Asian markets rose following Japanese Prime Minister Sanae Takaichi’s decisive election victory over the weekend.