India’s BSE Sensex rallied sharply on Monday, climbing about 1.7% to close at 75,693, its highest level since September 7. The advance was driven by strong corporate earnings, easing crude oil prices, and improving foreign investor participation.
Foreign Institutional Investors (FIIs) bought equities worth 35.99 billion rupees on Friday, extending their net buying streak to six sessions over the last 10 trading days. Market sentiment was further lifted by expectations of tax relief on equity investments, following reports of proposed changes to India’s long-term capital gains tax framework.
Among index heavyweights, Reliance Industries led the gains, soaring 11.6%—its biggest single-day rise since April 2020—after the company reported a stronger-than-expected 40.6% year-on-year increase in net profit for the September quarter. Bharat Electronics rose 1.9% after it posted a 20% jump in consolidated net profit for the second quarter.
Maruti Suzuki India added 2.2%, supported by robust October sales data across the automobile sector. In contrast, technology stocks underperformed the broader market.
