Nifty Leads Asia as Foreign Investors Return and Earnings Improve

India’s Nifty 50 has become the strongest-performing equity benchmark among the five largest markets in Asia so far this quarter, rising nearly 6%. Improving corporate earnings, lower oil prices, hopes for tax cuts and weakness in other technology-heavy markets are drawing foreign investors back to Indian stocks.

The index rose for a fifth consecutive session on Wednesday, its longest winning streak since June. Results due from companies including Bharti Airtel, LIC, Mahindra & Mahindra, ONGC and Titan are expected to test whether the recovery can continue.

A further decline in oil prices may also support sentiment toward Indian assets. Brent crude fell after dropping more than 8% in the previous session, as investors weighed the possibility that a Democratic sweep in the US midterm elections could accelerate efforts to end the war in the Middle East. US Vice President JD Vance said voter frustration over the war in Iran and the US-Israel relationship had doomed Republicans in the elections.

Sources: Bloomberg Markets.