Sensex ends above 63K for the first time; Nifty tops 18,700

Indian shares have been driven by growing domestic equity fund inflows from a relatively young population keen to take risks. Twinned with expectations that most major central banks will slow their interest rate hikes, that partly explains India’s surge ahead of both emerging market peers and developed markets.

India’s stock market, which rallied to a record high this week, is forecast to rise another 9% by the end of 2023 despite widespread expectations of a gradual slowdown in the global economy,