India’s equity benchmark indices Sensex and Nifty closed higher on Monday, all thanks to optimism over sustained foreign fund inflows amid hopes of a US trade deal and lower global crude oil prices.
The NSE Nifty rose 114.45 points or 0.47% to 24,461.15 and the BSE Sensex gained 0.37% to 80,796.84.
From the Sensex firms, Adani Ports jumped 6.29% amid reports that Gautam Adani’s representatives met with U.S. administration officials to seek dismissal of criminal charges against him in a bribery probe. Adani group stocks, including Adani Enterprises, Adani Ports, Adani Power and Adani Green Energy, ended with a sharp rally. The gainers included Bajaj Finserv, Mahindra & Mahindra, Eternal, Power Grid, ITC, Tata Motors, Asian Paints and Hindustan Unilever.
Meanwhile, Kotak Mahindra Bank tanked 4.57% after the firm reported a 7.57% decline in consolidated net profit to ₹4,933 crore for the March quarter of FY25, and the State Bank of India dipped over 1% after it reported an 8.34% decline in consolidated net profit to ₹19,600 crore for the January-March quarter. Axis Bank, Titan and IndusInd Bank were among the other losers.
Foreign Institutional Investors (FIIs) bought equities worth ₹2,769.81 crore on Friday, according to exchange data. Foreign investors put ₹4,223 crore into the country’s equity market in April, as they turned net buyers for the first time in three months amid a blend of favourable global cues and robust domestic fundamentals.
The inflow of foreign capital came last month following a back-to-back net outflow of ₹3,973 crore in March, ₹34,574 crore in February, and ₹78,027 crore in January.
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