The BSE Sensex and NSE Nifty50 both posted sharp gains, supported by Brent crude tumbling below $95 per barrel after steep mid-week declines. Risk appetite improved further after the US Democratic Party secured control of both congressional chambers, fueling optimism for measured trade policies and reduced Middle Eastern tensions. Additionally, foreign institutional investors extended their net purchasing streak to four straight days, injecting roughly Rs 17,235 crore into domestic stocks across three November sessions.
Key points
Foreign institutional investors provided strong momentum by injecting roughly Rs 17,235 c…: Foreign institutional investors provided strong momentum by injecting roughly Rs 17,235 crore into domestic equities across three November sessions.
Declining international crude oil benchmarks offered critical macroeconomic relief to Ind…: Declining international crude oil benchmarks offered critical macroeconomic relief to India's import-dependent economy.
US midterm election outcomes spurred market optimism regarding international trade, tarif…: US midterm election outcomes spurred market optimism regarding international trade, tariff stability, and regional geopolitical resolutions.
Sources checked by our analysis pipeline: 1
Stock market today: Dalal Street brought an early Diwali bonanza for investors on Thursday, with Sensex soaring over 1,600 points and
Nifty50 gaining 2% in early trade. The rally added over Rs 6.9 lakh crore to investors' wealth, as easing crude oil prices, renewed foreign investor buying and improving global sentiment following the US midterm election results lifted market mood.
The 30-share
BSE Sensex surged 1,609.54 points, or 2.08%, to 78,910.94, while NSE Nifty50 advanced 417.45 points, or 1.74%, to settle at 24,378.05.
Dalal Street extended its winning streak to six consecutive sessions on Thursday, building on Wednesday's gains when the Sensex climbed nearly 384 points to close at 77,301, its highest level in more than two months. The Nifty also advanced 150 points to settle at 23,961. The five-session rally through Wednesday had already lifted Sensex by over 4,000 points, or 5%.
Ponmudi R, CEO of Enrich Money, told ANI, "The sharp advance reflects improving global risk sentiment, supported by lower crude prices and renewed institutional buying.”
Political shifts following the Democratic Party's capture of both chambers of Congress pushed the U.S. dollar and Treasury yields lower, sparking a worldwide bullion rally. Concurrently, tumbling crude oil prices and robust foreign institutional buying injected strong momentum across Indian equities. This dual macroeconomic tailwind lifted major domestic retail jewellers alongside standard market indices on Thursday.
Southeast Asia's largest economy accelerated on the back of manufacturing gains, driven partly by mandatory palm oil processing for the national biodiesel program. This pickup occurred despite ongoing challenges with investor sentiment, fiscal scrutiny, and stock market downgrade risks. The performance provides momentum toward the administration's ambitious long-term target of reaching eight percent expansion by 2029.
Technical scanning data from StockEdge flagged five Nifty 50 constituents after each delivered gains exceeding 3% during the November 4 trading session. The identified equities formed a specific candlestick setup indicating sustained buying pressure from the opening bell to the market close. Market participants track this technical signal to gauge whether the prevailing upward momentum is poised to continue.