MUMBAI– Indian equities closed sharply higher on Monday, with the Sensex surging 746 points as foreign institutional investors (FIIs) returned to the market, PSU banks posted strong Q1 earnings, and robust mutual fund inflow data lifted sentiment in the final hours of trade.
The 30-share BSE Sensex ended at 80,604.08, up 0.93%, after opening flat at 79,885.36. The index hit an intraday high of 80,636.05, buoyed by broad-based buying. The NSE Nifty 50 closed at 24,585.05, up 221.75 points or 0.91%.
“The market saw a relief rally post a three-month low; positive global cues and the gradual return of FIIs supported sentiment,” said Vinod Nair, Head of Research at Geojit Financial Services. He noted that investors are also optimistic ahead of the upcoming U.S.-Russia summit, which could ease geopolitical tensions.
Top Sensex gainers included Tata Motors, Adani Ports, Trent, SBI, L&T, Mahindra & Mahindra, Axis Bank, Sun Pharma, HDFC Bank, HCL Tech, and Kotak Bank. Bharti Airtel, BEL, and ICICI Bank closed slightly lower.
Sectoral indices were largely positive: Nifty Bank gained 0.92%, Nifty Auto rose 1%, Nifty Fin Services added 0.91%, and Nifty IT advanced 0.42%. Broader indices also strengthened, with Nifty Next 50 up 1.17% and Nifty 100 gaining 0.96%.
AMFI data showed equity-oriented mutual funds saw net inflows of ₹42,702 crore in July, an 81% jump from ₹23,587 crore in June, pushing industry AUM to ₹75.36 lakh crore.
Meanwhile, gold prices retreated as news of a scheduled Aug. 15 meeting between U.S. President Donald Trump and Russian President Vladimir Putin prompted profit-taking. COMEX gold slipped from $3,400 to $3,355, while MCX gold fell ₹1,200 to ₹1,00,550. Analysts expect domestic prices to trade between ₹99,500 and ₹1,02,000 this week, with U.S. inflation data in focus. (Source: IANS)
