The NSE Nifty 50 index (.NSEI) rose as much as 0.52% to 20,238.45, a new record high, while the S&P BSE Sensex (.BSESN) was up 0.44% at 67,286.16, as of 9:35 a.m. IST.
"India's growth outlook remains positive, with various capex initiatives of the government likely to trigger consumption at the bottom of the pyramid," Pramod Gubbi, founder of Marcellus Investment Management, said.
India's Nifty and Sensex posted their best month in 2023 in November, aided by the return on foreign portfolio investor (FPI) inflows.
India's general elections are due early next year.
Reporting by Bharath Rajeswaran in Bengaluru; Editing by Sonia Cheema and Mrigank DhaniwalaOur Standards: The Thomson Reuters Trust Principles.
Persons:
Francis Mascarenhas, Gubbi, India's, Sensex, Madhavi Arora, Bharath Rajeswaran, Sonia Cheema
Organizations:
National Stock Exchange, REUTERS, Rights, NSE, BSE, Reuters, Reserve Bank, Marcellus Investment Management, Wall, Dow Jones, Bharatiya Janata Party, BJP, Indian National Congress, Emkay Global Financial Services, Thomson
Locations:
Mumbai, India, U.S, Rajasthan, Madhya Pradesh, Chhattisgarh, Telangana, Bengaluru