India’s benchmark stock index rose for a seventh day, poised for the longest winning streak since September 2012, on better-than-expected company earnings and higher foreign inflows.

Bank of Baroda jumped to a two-week high, sending the S&P BSE India Bankex to an all-time high, after the Reserve Bank of India allowed foreigners to make fresh purchases in the lender. Infosys Ltd. (INFO) led software exporters higher after Goldman Sachs Group Inc. raised its recommendation on the sector. Aluminum producer Hindalco Industries Ltd. (HNDL) gained 2.2 percent.

The S&P BSE Sensex (SENSEX) added 0.3 percent to 26,090.72 at 11:59 a.m. in Mumbai after rising to a record 26,188.64 earlier. Foreigners have bought $ 11.9 billion of local shares this year, the most in Asia, on speculation Prime Minister Narendra Modi’s government will spur economic growth from near a decade low. First-quarter earnings at four of the six Sensex companies that have posted results so far have beaten analyst estimates.

“There has been relentless buying by foreign funds on the back of benign global liquidity,” V.K. Vijayakumar, an investment strategist at Geojit BNP Paribas Financial Services Ltd., said by phone today. “India is the most attractive among emerging markets because of a turnaround in economic sentiments and corporate profitability.”

Bank of Baroda (BOB) rallied 3.3 percent, extending this year’s gain to 33 percent. State Bank of India, the nation’s biggest, rose 1.4 percent, while ICICI Bank Ltd. (ICICIBC) added 1.4 percent.

Infosys jumped 2.3 percent, while rival Tata Consultancy Services Ltd. (TCS) added 1.7 percent. Wipro Ltd. (WPRO), the third-biggest software exporter, rose 1.5 percent. Goldman Sachs raised the industry to overweight from marketweight, analysts led by Sunil Koul and Timothy Moe wrote in note dated yesterday.

Earnings Report

Yes Bank Ltd. (YES) gained 0.7 percent. The lender may post net income increased 12 percent in the June quarter to 4.5 billion rupees, according to the median estimate of 27 analysts in a Bloomberg survey.

Cairn India Ltd. (CAIR), which runs the nation’s biggest onshore oil field, fell 0.2 percent before its earnings report today. The company may say profit dropped 13 percent to 27.3 billion rupees, according to the median estimate of 31 analysts surveyed by Bloomberg.

The Sensex has increased 24 percent this year, the best performer among the world’s 10 biggest markets, and is valued at 15.9 times projected 12-month earnings. The MSCI Emerging Markets Index is trading at a multiple of 11.2. The MSCI gauge headed for an 18-month high today.

“The Indian market has been driven by improving risk appetite globally, as well as a bottoming out of growth, and not just the change in government,” Neelkanth Mishra and Ravi Shankar, analysts at Credit Suisse Group AG, wrote in a note dated yesterday.

The CNX Nifty Index (NIFTY) on the National Stock Exchange of India Ltd. advanced 0.1 percent to 7,778.85.

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