Sensex Crosses 90,000 for First Time on Foreign Inflows

The BSE Sensex crossed the psychologically significant 90,000 mark on Monday, driven by strong foreign institutional investor inflows and positive global market cues.

Key Market Movers

Banking stocks led the rally, with HDFC Bank, ICICI Bank, and SBI all gaining more than 2%. IT sector stocks also rose sharply following the IMF's revised India growth forecast. RELIANCE Industries hit a new all-time high.

FII Activity

Foreign institutional investors purchased a net ₹8,450 crore of Indian equities on Monday — the highest single-day inflow in over two years. Analysts attributed the buying to India's improved sovereign credit outlook and the strong macroeconomic data released earlier in the week.

Context

The 90,000 milestone comes just eight months after the Sensex crossed 80,000, suggesting an acceleration in the index's upward trajectory. India's market capitalisation has now crossed $5 trillion for the first time.

Outlook

Market strategists at Goldman Sachs and CLSA have maintained their year-end targets of 95,000 and 92,000 respectively. However, several analysts have cautioned that valuations are stretched and any global risk-off event could trigger a correction.