Key indices drift higher to 4-mth high

Mumbai: Benchmark BSE Sensex climbed nearly 295 points to close at an over four-month high on Monday following sustained foreign fund inflows and a sharp correction in global crude oil prices.

Rising for the second session in a row, the 30-share BSE barometer gained 294.85 points or 0.37 per cent to settle at 80,796.84, marking its highest close in 2025 so far. During the day, it jumped 547.04 points or 0.67 per cent to 81,049.03. The NSE Nifty rose 114.45 points or 0.47 per cent to 24,461.15, its highest closing level in 2025.

Among Sensex firms, Adani Ports jumped 6.29 per cent amid reports that Gautam Adani’s representatives met with US administration officials to seek the dismissal of criminal charges in a bribery probe. All other listed Adani group stocks, including Adani Enterprises, Adani Ports, Adani Power and Adani Green Energy, ended with sharp gains. Bajaj Finserv, Mahindra & Mahindra, Eternal, Power Grid, ITC, Tata Motors, Asian Paints and Hindustan Unilever were also among Sensex gainers. Among the laggards, Kotak Mahindra Bank tanked 4.57 per cent after the firm reported a 7.57 per cent decline in consolidated net profit to Rs 4,933 crore for the March quarter of FY25, primarily due to elevated stress in the microlending book.

State Bank of India, Axis Bank, Titan and IndusInd Bank were among the other losers. State Bank of India dipped over 1 per cent after it reported an 8.34 per cent decline in consolidated net profit to Rs19,600 crore for the January-March quarter compared to Rs 21,384 crore a year ago, impacted by a decline in net interest margins. Foreign Institutional Investors (FIIs) bought equities worth Rs2,769.81 crore on Friday, according to exchange data. Foreign investors injected Rs4,223 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.