Sensitive Index Completes Record Stretch of Quarterly Gains on Fund Flows
India’s stocks rose, with the benchmark index completing its longest stretch of quarterly gains, as the nation’s economic growth and corporate earnings lured investors to increase their holdings to a record.
Housing Development Finance Corp., the biggest mortgage lender, rose 3.2 percent. Overseas funds bought a net 8.95 billion rupees ($198.3 million) of Indian equities on Sept. 28, extending this year’s record inflows to 843.6 billion rupees, according to the nation’s market regulator. Hindalco Industries Ltd., the biggest aluminum producer, climbed 2.3 percent.
The Bombay Stock Exchange’s Sensitive Index, or Sensex, gained 97.37, or 0.5 percent, to 20,053.71, according to preliminary closing prices. The gauge rose for a seventh quarter, its best such rally. The measure has climbed 13 percent this quarter, the second-best performer among the world’s 10 biggest markets.
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