India’s Stock Benchmarks Move Closer to Record Highs as Reliance Leads Market Gains

Mumbai – India’s key equity indices edged closer to their historic peaks on Thursday, supported by strong performance from leading companies and renewed confidence in domestic consumption trends.

The Nifty 50 rose modestly in early trade, reflecting steady optimism across sectors, while the Sensex also gained as investors responded positively to recent corporate earnings momentum.

Both indices remain slightly below the record levels set in late 2024, yet the gradual upward movement suggests markets may soon retest those previous highs.

Foreign institutional investors contributed to the positive tone with renewed inflows, joining domestic institutional buyers who also added significantly to their positions.

The return of overseas investment has been viewed as a key driver of market stability, especially as global risk sentiment improves amid stronger U.S. tech-sector earnings.

Asian markets also supported the broader mood, rising in tandem with global equities, with investors encouraged by solid results from major technology companies.

Nine out of sixteen major sectoral indices recorded gains in morning trade, showing broad participation across industries and strengthening overall market confidence.

Both mid-cap and small-cap indices posted moderate advances, continuing their trend of resilient performance throughout the year.

Market strategists noted that the near-term outlook appears constructive, though they also expect investors to maintain caution ahead of upcoming global economic data.

Attention is now turning to the U.S. jobs report due later in the day, as traders look for clues regarding future shifts in Federal Reserve monetary policy.

Reliance Industries emerged as one of the strongest contributors to index gains, boosted by renewed analyst support and expectations of improving growth in its energy segments.

Brokerage firms reiterated bullish views on the conglomerate, citing robust refining margins and expanding potential in new energy initiatives.

Two-wheeler manufacturer Hero MotoCorp posted notable gains as well,
after a major global brokerage upgraded its rating and predicted stronger financial performance.

The upgrade was driven by expectations of rising sales supported by tax reductions, as well as the impact of upcoming product launches in competitive segments.

Construction and infrastructure company NBCC also moved higher, following announcements of substantial new work orders that strengthened investor confidence.

Analysts believe broader economic resilience and improving demand indicators, particularly in consumer-driven sectors, could support a continued upward trend.

At the same time, global market cues remain significant for short-term direction, with investors closely watching developments in U.S. inflation, interest rates and employment trends.

Despite the cautious backdrop, the Indian market continues to demonstrate strong fundamentals, reflecting sustained domestic economic activity and improving corporate profitability.

Overall, Thursday’s session highlighted steady investor confidence, with benchmarks inching closer to their previous highs and signaling potential for further gains.