Sensex Crosses 85,000 Mark for First Time as FIIs Return to Indian Markets
Foreign institutional investors pump $3 billion into Indian equities over the past two weeks, driving the benchmark index to new highs.
Ananya Patel
correspondent
The BSE Sensex crossed the historic 85,000 mark for the first time on Monday, driven by strong foreign institutional investor (FII) inflows and positive global cues. The milestone represents a remarkable 22% gain for the index in 2024.
Foreign Investment Surge
Foreign institutional investors have pumped approximately $3 billion into Indian equities over the past two weeks, reversing the trend of sustained selling that characterized most of the first half of the year. Analysts attribute this to improving global liquidity conditions and India's relative economic stability compared to other emerging markets.
"India continues to be the preferred destination for global portfolio investors," said Equitymaster's senior analyst Amish Shah. "The combination of strong GDP growth, stable inflation, and a business-friendly government has made India a safe haven in uncertain times."
Sectoral Performance
IT stocks led the rally with a 4.2% gain, followed by banking and financial services (+3.1%) and infrastructure (+2.8%). The mid-cap index also touched a new high, gaining 1.8% during the session.
Ananya Patel
correspondent
Business and finance reporter with expertise in market analysis.
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