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12.11.202604:57:51UTC+00Sensex Advances for 10th Consecutive Session

India’s BSE Sensex rose about 0.4% to 82,219 on Thursday, extending its winning streak to a tenth consecutive session. The advance was underpinned by sustained foreign portfolio inflows, easing crude oil prices and a brighter global risk backdrop.

Brent crude futures fell more than 1% to $91.80 a barrel amid optimism about possible progress in peace efforts in both the Middle East and the Russia-Ukraine conflict, offering additional support to equity markets. Even so, the rally may encounter near-term headwinds from elevated US Treasury yields and rich equity valuations, with the 10-year US yield trading close to 4.99%.

On the stock-specific front, Adani Green Energy, Coforge, LIC and Meesho are expected to see heightened interest after being added to the MSCI India index, while PI Industries was removed. Bajaj Finance is also in the spotlight after launching a share sale worth more than $1 billion, and Tata Power reported an almost 49% jump in second-quarter profit.

Financials led the advance, with ICICI Bank, State Bank of India, Bajaj Finance and Kotak Mahindra Bank gaining between 0.9% and 2.5%.

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