India Embraces Stock Investing as Local Market Surges

NEW DELHI—Indian stocks have risen more than any other major market in the world this year and that is enticing millions of local investors to put their savings into equities, further buoying the market.

Indian markets were closed Friday for a public holiday. As of Thursday, India’s benchmark 30-share S&P BSE Sensex was up 28% this year and the Nifty 50 index was up 31%, with both finishing at closing record highs. In contrast, the broader MSCI Emerging Markets Index was down around 1.9% over the same period, while the S&P 500 gained about 18%.