Indian equities extended their winning streak for the fourth straight session on Monday, lifted by robust foreign inflows, gains in heavyweight stocks like Reliance Industries, HDFC Bank amid resilient corporate earnings for the September quarter.
At 9:20 a.m., the benchmark Sensex surged 0.8 percent, or 660 points, to 84,600, while the Nifty 50 advanced 0.8 percent, or 195 points, to 25,900. Data from NSDL showed that foreign investors purchased over Rs 4,000 crore in secondary markets and Rs 8,200 crore in primary markets over the last eight sessions, underscoring renewed global confidence in India’s growth story.
Corporate India’s September-quarter earnings have offered early signs of resilience despite global headwinds, volatile input costs, and currency fluctuations. A Moneycontrol analysis of 150 companies (excluding energy, banking, insurance, and financial services) revealed that operating profit rose 11 percent year-on-year — the fastest pace in eight quarters. Net profit grew 8 percent in Q2FY26, slightly lower than the 10 percent rise in Q1FY26 but above the 6 percent gain a year earlier. Net sales climbed 11 percent, the strongest growth in two years.
Banking stocks remained in focus as the Nifty Bank Index hit a record high after Emirates NBD Bank PJSC announced a $3.05 billion investment in RBL Bank. The deal is expected to boost interest in mid-sized lenders as foreign institutions deepen their footprint in India’s financial sector. Experts said the move could shift attention toward other potential acquisition targets such as Federal Bank, IndusInd Bank, and Bandhan Bank. Strong earnings from HDFC Bank and ICICI Bank further bolstered investor sentiment.
Reliance Industries gained 3 percent following its quarterly results, as analysts flagged signs of a turnaround in earnings momentum. The revival of its retail arm — a key growth driver for Mukesh Ambani’s oil-to-telecom conglomerate — stood out despite the group’s overall profit missing estimates. Analysts at Macquarie and Morgan Stanley noted a “growth revival” in Reliance Retail after 18 months of sluggish performance. However, a slowdown in average revenue per user (ARPU) in the telecom division ahead of Jio’s planned IPO next year may prompt tariff hikes to maintain profitability.
In broader Asia, equities advanced amid easing trade frictions and optimism over Japan’s political landscape. The MSCI Asia Pacific Index climbed 1.6 percent, rebounding after two weeks of losses. Japan’s Nikkei 225 hit a new high following reports that ruling and opposition leaders reached a coalition agreement, while the yen weakened against the dollar.
Market sentiment brightened further after US President Donald Trump moved to defuse trade tensions with China. New talks between Treasury Secretary Scott Bessent and Vice Premier He Lifeng this week are expected to address fresh escalatory measures. Shares in Hong Kong extended gains despite China’s economic growth slowing to its weakest pace in a year, as investors turned their focus to an upcoming key political meeting.
Disclaimer: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
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