RIL and Foreign Investors Propel Sensex Beyond 80k Mark

MUMBAI: The Indian stock market witnessed a significant uplift as Reliance Industries Limited (RIL) and banking stocks led the charge, pushing the Sensex above the 80,000 threshold once again. This rally was further bolstered by continuous foreign fund investments into the Indian market, reversing a two-session downward trend.

On Monday, the Sensex opened slightly higher and surged throughout the session to close at 80,218 points, marking a 1,006-point (1.3%) increase. Similarly, the Nifty on the NSE opened higher and closed 289 points up at 24,329 points. This surge added approximately Rs 4.5 lakh crore to investor wealth, with BSE's market capitalisation reaching Rs 426.1 lakh crore.

Key Contributors to the Rally

According to Satish Chandra Aluri from Lemonn, a stock trading platform, the benchmarks were lifted by better-than-expected earnings from RIL, alongside steady foreign inflows that bolstered market sentiment. RIL's stock price saw a significant boost thanks to strong performances in its telecom and retail sectors.

Additionally, the market is showing cautious optimism regarding global trade developments, particularly between the US and China, which are signaling a potential de-escalation.

Foreign Portfolio Investors' Role

The rally was significantly supported by foreign portfolio investors (FPIs), who net infused Rs 2,474 crore into stocks. Over the last eight sessions, FPIs have net bought Indian stocks worth nearly Rs 35,000 crore, as per combined data from NSDL and BSE.

This influx has turned the total FPI flow into the Indian market in April to positive territory, a stark contrast to the Rs 1.3 lakh crore worth of stocks sold by FPIs in FY25, with the majority occurring in the last six months of the year.

Leading the charge were RIL, ICICI Bank, Axis Bank, and SBI, while HCL Tech, UltraTech Cement, and HUL were among the top laggards. Out of 30 Sensex stocks, 23 closed with gains, and seven in the red, with 1,806 stocks closing higher in the broader market compared to 1,144 that closed lower.