Fireworks on D-St: Markets extend rally for 4th day on strong RIL, HDFC Bank Q2 results

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.