By Anoop Agrawal Nov. 5 (Bloomberg) -- India's rupee rose to a one-month high as overseas funds bought more local shares than they sold for a second day. The currency strengthened for a sixth day, its best run in a year, on optimism U.S. president-elect Barack Obama will bolster measures to overcome a recession in the world's biggest economy. The benchmark Bombay Stock Exchange Sensitive Index has rebounded 25 percent in the past five trading sessions, while the stock market regulator said global investors purchased a net $482.1 million of Indian shares on Oct. 31 and Nov. 3. ``The optimism among investors is beginning to settle deeper as reflected by the equity markets,'' said P.V. Rao, a currency trader at IndusInd Bank Ltd. in Mumbai. ``We will see very soon a return of investments into India which will benefit the rupee.'' The rupee surged as much as 2.1 percent to 46.73 per dollar, the strongest intraday level since Oct. 1, before trading at 46.965 as of 9:48 a.m. in Mumbai, according to data compiled by Bloomberg. The currency touched a record low of 50.29 on Oct. 27 as the global financial crisis nudged the U.S. and Europe toward a recession, causing foreign investors to flee riskier emerging markets. The MSCI Asia-Pacific Index of stocks rose as much as 4.6 percent, headed for a third day of gains. To contact the reporter on this story: Anoop Agrawal in Mumbai at aagrawal8@bloomberg.net.

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