Stocks in India Climb to Record on Robust Earnings, Global Rally
- Sensex jumps 2% on Friday as softer US CPI boosted risk assets
- Quarterly earnings in India signal continued growth momentum
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Indian stocks jumped to an all-time high as strong corporate earnings and a return of foreign investors bolsters one of the world’s top-performing major markets of the year.
Joining a global rally sparked by a softer-than-expected US inflation reading, the S&P BSE Sensex Index jumped 2% to close at 61,795.04 on Friday, eclipsing a previous record reached on Oct. 18 last year. The NSE Nifty 50 Index climbed 1.8%. Of the 47 Nifty firms that have announced September-quarter results so far, 32 have met or beaten analysts’ estimates.