Tata Motors, ITC gain in India's consumer-driven stock rally

Global retail investors buy in, but governance concerns remain

20230920N BSE

Foreign and domestic investors have pumped money into India's stock market. © Reuters

MANAMI OGAWA and RYOSUKE HANADA, Nikkei staff writers

TOKYO/MUMBAI -- India's stock market is flying high as economic growth in the world's most populous country lifts shares in makers of cars, cigarettes and other consumer goods.

The BSE's Sensex index rose for 11 straight sessions to a record 67,838 on Friday, up 12% from the end of 2022. The benchmark had been trending up after August inflation fell below market expectations at 6.83%.

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