Sensex closes above 80,000 as Reliance, banks drive strong market recovery

The benchmark BSE Sensex rose 1,006 points to close above 80,000 on Monday, aided by a significant rebound in Reliance Industries and private banks, as well as foreign money inflows, which helped stock markets recover from a two-day drop due to India-Pakistan tensions. The 30-share BSE Sensex rose 1,005.84 points, or 1.27 percent, to 80,218.37, with 23 of its members closing higher and seven down. During the day, it rose 1,109.35 points, or 1.40 percent, to 80,321.88.

The NSE Nifty gained 289.15 points, or 1.20 percent, to settle at 24,328.50. Reliance Industries rose 5.27 percent to become the largest gainer among Sensex firms. The oil-to-retail powerhouse posted a 2.4 percent increase in March quarter net profit, exceeding analyst expectations.

Mahindra & Mahindra surged 2.29 percent after announcing a ₹555-crore acquisition of SML Isuzu. The business stated that the takeover was a solid strategic match and would put it in a stronger position. SML Isuzu Ltd shares, on the other hand, fell ten percent. Sun Pharma, Tata Steel, State Bank of India, Axis Bank, Tata Motors, Larsen & Toubro, and ICICI Bank were all among the Sensex gainers. HCL Tech, UltraTech Cement, Nestle, and Hindustan Unilever were among the underperformers.