Overview
- A surge of foreign institutional investor buying in early November powered a sharp rally that lifted the Sensex to about 81,879 and the Nifty to roughly 25,255 in mid‑November.
- Exchange data show FIIs bought roughly ₹65,735 crore so far in November with a single‑day purchase of about ₹12,563 crore on the big buying session.
- Stronger‑than‑expected Q2 earnings helped the advance and major brokerages raised or kept bullish Nifty targets, including Citi at 28,000, Bernstein at 26,100 and BofA at 26,200.
- After the run, investors booked profits and weaker global cues sent markets lower on Friday with early trade showing the Sensex down ~450 points and the Nifty near 25,117 as October CPI printed about 6.09% and Brent crude moved back toward $95 a barrel.
- The rally’s durability now hinges on sustained FII flows, crude price direction and inflation trends because higher oil and CPI readings could squeeze corporate margins, worsen the current account and increase the chance of RBI rate hikes that would raise near‑term market volatility.