The benchmark rally pushed the BSE Sensex past the 75,000 threshold for the first time in nearly two months, alongside broad advances in the NSE Nifty. Overall investor wealth expanded by approximately Rs 8 lakh crore, lifting the total valuation of BSE-listed companies to Rs 482.3 lakh crore as 23 of the 30 Sensex constituents logged gains. Foreign institutional funds heavily backed the market upswing by purchasing a net Rs 3,115 crore in equities, while domestic funds recorded net sales of Rs 392 crore. Favorable domestic data, including October passenger-vehicle sales growth and higher gross GST collections, reaffirmed underlying economic resilience.
Key points
Foreign institutional investors reinforced market momentum with net equity purchases tota…: Foreign institutional investors reinforced market momentum with net equity purchases totaling Rs 3,115 crore.
Positive sentiment gained traction following reports that Sebi proposed eliminating long-…: Positive sentiment gained traction following reports that Sebi proposed eliminating long-term capital gains tax for foreign investors.
Easing geopolitical tensions alongside a drop in crude oil prices provided beneficial int…: Easing geopolitical tensions alongside a drop in crude oil prices provided beneficial international tailwinds for market participants.
Sources checked by our analysis pipeline: 1
MUMBAI:
Reliance Industries' strong results announced on Friday evening, lifted investor sentiment on Dalal Street on Monday with the
sensex opening over 700 points higher. After witnessing a sustained buying trend through the session, the benchmark index closed 1,233 points or 1.3% up at 75,693 points with Reliance's stock alone adding about 750 points, more than half of sensex's gain for the day. On NSE,
Nifty closed 388 points or 1.7% at 23,441 points.
Sensex closed above the 75K level after nearly two months. At the close of Monday's session, RIL ended nearly 12% up, adding about Rs 1.8 lakh crore to its shareholders' wealth in just one session. RIL's 11.6% gain was its biggest single-session jump in the stock since April 7, 2020, when at the start of the Covid pandemic it had announced selling a 9.9% stake in Jio Platforms to global social media giant Meta.
The day's Rs 1.8-lakh-crore gain in RIL's market cap was the biggest single-session gain for a company ever, data from ETintelligence showed. In July 2023, HDFC Bank's market cap had jumped by…
Regional market sentiment split as technology sector concerns collided with fresh monetary policy tightening across the Pacific. Investors faced headwinds stemming directly from guidance shared by the consumer electronics giant. Meanwhile, elevated borrowing costs introduced by central bankers signaled sustained pressure on broader economic growth.
Market participants observed a downward shift in the electronics component maker's equity valuation during the latest session. Analysts and investors are closely monitoring the enterprise as trading pressures emerge on the exchange. The contraction impacts overall share performance for the current trading day.
Domestic equities are riding strong multi-day momentum supported by easing global oil benchmarks, positive earnings, and fresh overseas capital. Foreign portfolio investors have resumed net purchases after diplomatic developments helped cool crude prices to roughly $105 per barrel. As derivative contracts expire, market participants are watching crucial overhead hurdles to determine if the recovery toward multi-week highs can sustain.