Home benchmark indices, the Sensex and Nifty, gained over 1 per cent on Monday boosted by robust quarterly efficiency posted by giant personal sector lenders and renewed shopping for curiosity from international portfolio traders (FPIs).
The positive factors available in the market have been additionally pushed by the hope that India could quickly have the ability to finalise the proposed bilateral commerce pact with the US, whose Vice President, J D Vance, is on a four-day go to to India.
The BSE’s 30-share Sensex rose 1.09 per cent, or 855.3 factors, to shut at 79,408.5. The broader Nifty gained 1.15 per cent, or 273.9 factors, to finish at 24,125.55. Each the indices have surged over 7.5 per cent within the final six buying and selling classes.
On Monday, the Financial institution Nifty rose 1.87 per cent to complete at a contemporary report excessive of 55,304.5. The banking index had final touched a report excessive of 54,467.35 on September 26, 2024.
The market capitalisation, or the full worth of all listed shares, of the BSE-listed corporations reached $ 5 trillion after three months.
“The market kicked off the week on a powerful word, extending final week’s momentum with positive factors of over one p.c. Following a gap-up opening, the Nifty moved larger, led by energy in banking and monetary shares, which lifted general sentiment and triggered broad-based shopping for,” mentioned Ajit Mishra – SVP, Analysis, Religare Broking Ltd.
In response to Geojit Investments Ltd’s Chief Funding Strategist VK Vijayakumar, India seems comparatively resilient regardless of the worldwide financial situation being mired in uncertainty.
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“India is the one giant economic system which may develop at 6 per cent even in a slowing world economic system. This, together with the declining greenback, has the potential to draw extra FPI inflows into India within the brief run,” mentioned VK Vijayakumar, Chief Funding Strategist, Geojit Investments Restricted.
Over the last two buying and selling classes (April 16 and 17), abroad traders purchased Rs 10,824.29 crore value of home shares, in response to the Nationwide Securities Depository Ltd (NSDL) information.
This shopping for from abroad traders got here after they web offered Rs 33,927 crore of native shares between April 1 and 15. The reversal in FPIs technique is pushed by depreciating greenback on account of progress considerations within the US after President Donald Trump introduced to levy reciprocal tariffs on its buying and selling companions, and on escalating commerce wars.
The main target of the FIIs would be the home consumption themes like financials, telecom, aviation, resorts, choose autos, actual property, cement and well being care,” Vijayakumar mentioned.
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Final week, HDFC Financial institution and ICICI Financial institution posted quarterly outcomes that have been above market expectations. HDFC Financial institution reported a 6.7 per cent progress in standalone revenue after tax (PAT) at Rs 17,616.14 crore, whereas ICICI Financial institution’s standalone web revenue jumped 18 per cent to Rs 12,630 crore within the quarter ended March 2025.
“Massive personal banks have taken the lead, surging to new all-time highs. Their quarterly outcomes over the weekend aligned with market expectations and can proceed to drive markets larger,” mentioned Devarsh Vakil, Head of Prime Analysis at HDFC Securities.
Analysts mentioned that with US Vice President JD Vance’s go to to India, there’s a hope that each nations can safe a fast deal and a reprieve from weightier levies whereas sustaining a ten per cent baseline tariff.
“The market can also be anticipating a possible commerce cope with the US within the close to time period and India is at the moment higher ready to achieve from supply-chain relocation. India’s macro is essentially steady with extra profit from falling commodity and oil costs,” Nomura mentioned in a report.
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All broad market indices resulted in inexperienced, with Nifty Midcap 100 rising 2.5 per cent and Nifty Smallcap 100 gaining 2.21 per cent.
The Nifty corporations that gained essentially the most included Tech Mahindra (5.14 per cent), Trent ( 4.32 per cent), Indusind Financial institution (4.06 per cent), Energy Grid Company (3.56 per cent), Hero Motocorp (3.49 per cent), and Bajaj Finserv (3.47 per cent).x