Nov 12 (Reuters) - Indian shares inched higher in early trade on Thursday on optimism over lower crude oil prices and foreign fund inflows, while recent gains kept the upside capped.
Sign up here.
Brent crude futures fell more than 1% to $91.8 per barrel on hopes for progress in peace talks over the Middle East and the Russia-Ukraine wars.
Foreign portfolio investors bought 125.63 billion rupees ($1.34 billion) worth of Indian shares on Wednesday, provisional data showed. They have net bought $6.43 billion of shares in November, already their biggest monthly purchase since September 2024.
The rally marks a reversal for Indian equities, which have lagged their emerging-market peers over the past two years due to elevated oil prices and limited exposure to the global AI-driven market rally.
"Despite (Wednesday's) positive close, rejection from higher levels indicates some near-term profit booking," said Hitesh Tailor, technical research analyst at Choice Broking.
The benchmark indexes had closed nearly 1% higher on Wednesday, after rising as much as 1.7% intraday.
However, the overall market structure remains positive, backed by strong FPI participation and continued strength in banking stocks, Tailor added.
Reporting by Vivek Kumar M; Editing by Sherry Jacob-Phillips and Jochelle Mendonca
