MUMBAI, Nov 5 (Reuters) - Foreign investors bought a net $1.6 billion of Indian stocks on Thursday, their biggest ​daily purchase in nearly six years, as falling oil prices and a ‌retreat from AI-linked shares boosted India's appeal.

Overseas investors bought 147.96 billion rupees of shares, provisional stock exchange data showed, the most since February 24, 2021, when purchases of 287.39 billion rupees included ​a large promoter-driven block deal.

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The buying came as oil prices fell sharply ​after the U.S. midterm elections, while a selloff in artificial intelligence-related ⁠stocks prompted global funds to rebalance their exposure.

India, a major oil importer, has ​underperformed emerging-market peers this year as elevated crude prices raised concerns over the economic ​outlook, while its relative lack of AI-linked stocks kept investors away.

But with oil prices falling and investors reconsidering crowded AI trades, analysts said Indian assets could get a second look.

"In our view, ​accelerating earnings, below-average valuations and low foreign ownership make India an attractive opportunity," said ​Anand Gupta, lead portfolio manager for India equity at Allianz Global Investors.

Foreign investors had selectively turned ‌buyers ⁠even before the US midterm election results became clear. They have bought a net 208.35 billion rupees ($2.20 billion) of Indian stocks over the past five sessions.

That marks a sharp reversal after foreign investors sold a record $30 billion of Indian equities through October.

Indian equities should ​maintain their ⁠positive trajectory, said Siddhartha Khemka, head of research for wealth management at Motilal Oswal Financial Services.

"The US midterm election outcome has further lifted global sentiment, with expectations of ⁠a more ​measured approach to trade and tariffs, alongside a ​weaker US dollar and the 10-year US Treasury yield easing," Khemka said.

($1 = 94.5075 Indian rupees)

Reporting by Vivek Kumar ​M and Bharath Rajeswaran in Bengaluru; writing by Ira Dugal; Editing by Anil D'Silva