Indian Stocks Climb for Second Day as HDFC Bank Jumps to Record
- Foreigners buy $847m of shares in July, surpass June’s $771m
- Refiners Indian Oil, BPCL; Bajaj, Hero climb to all-time highs
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Indian stocks rose for a second day, sending at least four companies in the benchmark gauge to a record close, as overseas investors extended their purchases of local shares amid gains in global equities.
Coal India Ltd., the world’s biggest miner of the fuel, was the top gainer on the S&P BSE Sensex. HDFC Bank Ltd., the most valuable lender, climbed to a record before its quarterly earnings Thursday. Power Grid Corp. and motorcycle makers Hero MotoCorp Ltd. and Bajaj Auto Ltd. rallied to all-time highs. Indian Oil Corp., Hindustan Petroleum Corp. and Bharat Petroleum Corp., the nation’s largest refiners, also increased to records.