Benchmark indices Nifty and Sensex have gained nearly 10 percent so far in November, outperforming their emerging market peers, as easing crude oil prices and concerns over global AI investments have strengthened expectations of foreign fund inflows into India.
The Nifty has risen more than 11 percent in 12 trading sessions from its October 28 low of 22,497, prompting global brokerage Bernstein to raise its December target for the index.
Bernstein has raised its Nifty 50 target to 26,100 points from 25,000 earlier, citing improving market sentiment and easing geopolitical concerns.
"While the US midterms provided a long-missing spark to the markets, Trump's recent statement on 'Iran war being effectively over' furthers the momentum," Bernstein analysts Venugopal Garre and Nikhil Arela said in a note.
The brokerage has maintained its near-term 'Trading Buy' rating on Indian equities while retaining a 'Neutral' stance over a 12-month horizon.