₹20 tn Diwali boost as Nifty hits multi-year high

What happened: Indian equities rallied while global technology stocks sold off, with the Nifty hitting a multi-year high and foreign institutional investors returning as buyers after months of selling. Key numbers: FIIs bought nearly Rs 15,000 crore of Indian equities on Thursday, their biggest single-day purchase in more than a year, and Rs 35,781 crore over five Why it matters: Nomura sees the backdrop for foreign flows improving on easing FII selling, resilient earnings and reasonable valuations, while Vijayakumar says the market can stay resilient as long as foreign buying continues.

Indian equities rallied while global technology stocks sold off, with the Nifty hitting a multi-year high and foreign institutional investors returning as buyers after months of selling.

Nomura sees the backdrop for foreign flows improving on easing FII selling, resilient earnings and reasonable valuations, while Vijayakumar says the market can stay resilient as long as foreign buying continues.