MOTILAL OSWAL, NUVAMA, CAMS RALLY UP TO 4%

MOTILALOFS Shares of capital market-related companies, including Motilal Oswal Financial Services, Nuvama Wealth Management and Computer Age Management Services (CAMS), gained up to 4 percent on November 12 as benchmark indices Sensex and Nifty continued to trade near their eight-month highs. The Nifty Capital Markets index was trading 1.1 percent higher. Nuvama led the gains, rising 4 percent, followed by CAMS, which advanced 3.9 percent, and Motilal Oswal Financial Services, which gained 3.8 percent. Other notable gainers included CDSL, KFin Technologies and Nippon Life India Asset Management, which climbed 3.4 percent, 2.8 percent and 2.5 percent, respectively. The rally in capital market stocks was supported by strong buying from foreign institutional investors. Provisional exchange data showed that foreign portfolio investors purchased Indian equities worth Rs 12,563 crore on Wednesday. Their net investment in Indian shares has reached $6.43 billion in November, making it their largest monthly purchase since September 2024. The Nifty has gained 9.55 percent over the first seven trading sessions of November, with aggressive FII buying emerging as a key driver of the rally. Market dynamics have also undergone a significant shift. Until October, foreign institutional investors were largely selling Indian equities, while domestic institutional investors were supporting the market through consistent buying. The trend has now reversed, with FIIs turning aggressive buyers and DIIs becoming consistent sellers. FIIs have invested a total of Rs 65,735 crore in Indian equities so far in November. Market experts believe that this buying trend could continue and potentially reach record levels.