Sensex at 4-month peak, riding high on Reliance rally

Investor wealth rose ₹4.53 trillion, propelled by foreign portfolio investors buying shares worth ₹2,474 crore

- Srushti Vaidya

India's stock market indices surged on Monday, snapping a two-day losing streak, as investors piled into index-heavyweight Reliance Industries Ltd following stellar quarterly earnings, sending the stock to a six-month peak.

Markets are poised to consolidate their gains in the coming sessions, subject to geopolitical conditions not worsening, said analysts, whose view of the January-March earnings remains mixed. However, they are unanimous that the markets will fall if the tensions between New Delhi and Islamabad escalate, after terrorists linked to Pakistan-based Lashkar-e-Taiba gunned down 26 tourists in Jammu & Kashmir's Pahalgam last week.