Sensex Hits New Heights Amid Foreign Investment Surge and Oil Price Drop

Market Overview
Mumbai: The BSE Sensex surged by nearly 295 points, reaching its highest level in over four months on Monday, driven by consistent foreign fund inflows and a significant drop in global crude oil prices.
This marks the second consecutive day of gains for the 30-share BSE index, which rose by 294.85 points or 0.37 percent, closing at 80,796.84. At its peak during the day, it soared by 547.04 points or 0.67 percent to touch 81,049.03.
The NSE Nifty also experienced an uptick, climbing 114.45 points or 0.47 percent to finish at 24,461.15, marking its highest closing level of the year.
Among the companies listed on the Sensex, Adani Ports saw a remarkable increase of 6.29 percent following reports that representatives of Gautam Adani met with officials from the US administration to discuss the dismissal of criminal charges related to a bribery investigation. Other Adani group stocks, including Adani Enterprises, Adani Power, and Adani Green Energy, also recorded substantial gains.
Other notable gainers included Bajaj Finserv, Mahindra & Mahindra, Eternal, Power Grid, ITC, Tata Motors, Asian Paints, and Hindustan Unilever.
Conversely, Kotak Mahindra Bank faced a decline of 4.57 percent after announcing a 7.57 percent drop in its consolidated net profit to Rs 4,933 crore for the March quarter of FY25, largely due to increased stress in its microlending portfolio.
Other stocks that lost ground included State Bank of India, Axis Bank, Titan, and IndusInd Bank.
State Bank of India fell by over 1 percent after reporting an 8.34 percent decrease in its consolidated net profit to Rs 19,600 crore for the January-March quarter, down from Rs 21,384 crore the previous year, attributed to a reduction in net interest margins.
According to exchange data, Foreign Institutional Investors (FIIs) purchased equities worth Rs 2,769.81 crore on Friday.
In April, foreign investors injected Rs 4,223 crore into the Indian equity market, marking their return as net buyers for the first time in three months, buoyed by favorable global conditions and strong domestic fundamentals.
This influx of foreign capital followed a series of net outflows totaling Rs 3,973 crore in March, Rs 34,574 crore in February, and Rs 78,027 crore in January.
"The market continues to maintain its positive trajectory, although the level of optimism appears to be waning. Ongoing foreign inflows and record GST collections in April suggest resilience in economic activity, fostering a sense of cautious optimism. A weaker dollar and falling oil prices have further enhanced FII sentiment," stated Vinod Nair, Head of Research at Geojit Investments Limited.
The BSE midcap index rose by 1.45 percent, while the smallcap index increased by 1.23 percent.
Sector-wise, services led the gains with a 2.99 percent rise, followed by oil & gas (1.95 percent), auto (1.88 percent), consumer discretionary (1.58 percent), utilities (1.50 percent), and energy (1.49 percent).
The Bankex index was the only sector to record a loss.
On the BSE, 2,563 stocks advanced, while 1,459 declined, and 180 remained unchanged.
Markets in South Korea, Japan, China, and Hong Kong were closed for holidays.
European markets displayed mixed trading patterns.
US markets closed significantly higher on Friday.
The global oil benchmark, Brent crude, fell by 1.45 percent to USD 60.40 per barrel.
On Friday, the 30-share BSE benchmark closed 259.75 points, or 0.32 percent, higher at 80,501.99, while the Nifty gained a modest 12.50 points, or 0.05 percent, to settle at 24,346.70.