Both benchmark indices, the Sensex and Nifty, ended at new lifetime highs. The BSE Sensex ended 0.72% or 183.75 points higher at 25,580.21 points, while the NSE Nifty ended 0.94% or 71.94 points higher at 7,654.60 points. The Sensex is now the best-performing index in Asia this year, having returned 26.57% in dollar terms and beating gains from China's Shanghai Composite (-6.89%), Hang Seng (-0.78), Taiwan's Taiex (5.76%) and South Korea's Kospi (2.55%). India has even overtaken Indonesia's Jakarta Composite, which has put on 18.11%, and was the best performing market till a couple of weeks ago.
Foreign institutional investors (FIIs) have bought shares worth about $8.7 billion so far in 2014 with the highest net purchases in March ($3.7 billion) and May ($2.78 billion), the month the BJP won a decisive single-party mandate at the Centre. India has seen more overseas inflows this year than most peers with FII inflows of about $8.7 billion, which are higher than flows into Indonesia of just $3.7 billion and Taiwan's $7.7 billion. FIIs have been sellers in markets like Japan net sales of $22.6 billion and South Korea sales of $2.2 billion.