The Nifty 50 surged 2.40% to 24,536.60 and the Sensex rose 2.60% to 79,310.01, extending the market rally into a sixth consecutive trading session. Foreign institutional investors funneled ₹7,284 crore into equities as falling Brent crude prices and post-U.S. election sentiment provided strong tailwinds. Meanwhile, Shriram Finance gained about 6%, highlighting the intense buying interest seen across leading financial and automotive stocks. MarketSmith India capitalized on this strength by recommending buys for Sambhv Steel Tubes and Punjab National Bank.
Key points
The Nifty Auto index advanced 4.14% and the Bank Nifty climbed 3.33% to spearhead Thursda…: The Nifty Auto index advanced 4.14% and the Bank Nifty climbed 3.33% to spearhead Thursday's broad market surge.
MarketSmith India recommended Sambhv Steel Tubes between ₹166 and ₹169 with a target pric…: MarketSmith India recommended Sambhv Steel Tubes between ₹166 and ₹169 with a target price set at ₹195.
Punjab National Bank was flagged as a buy between ₹125 and ₹127 with a target of ₹145 and…: Punjab National Bank was flagged as a buy between ₹125 and ₹127 with a target of ₹145 and a stop loss of ₹120.
Sources checked by our analysis pipeline: 1
Stock market recap: Indian equities posted a powerful rally on Thursday, extending their winning streak to a sixth consecutive session. A sharp decline in crude oil prices, strong foreign buying, and improving global sentiment following the U.S. midterm elections drove a broad-based surge.
Nifty 50 jumped 576 points, or 2.40%, to close at 24,536.60, its highest close in over two months, while Sensex soared 2,008.61 points, or 2.60%, to settle at 79,310.01. Brent crude fell below $95 per barrel, about 20% below last Friday's six-month high, as the Democrats' sweep in the U.S. midterm elections raised hopes that a weakened Trump administration would seek a deal with Iran.
Foreign investors bought ₹7,284 crore shares on Wednesday, taking four-session purchases to about ₹20,834 crore, while the rupee hit a two-week high and bond yields eased. Banks led the charge, with Bank Nifty surging 3.33%. At the same time, Auto and Cement indices gained more than 3%. Shriram Finance was among the top gainers, rising about 6%, as Financials, Autos, and Aviation stocks saw heavy buying. Breadth was strongly positive, with 2,547…
Addressing parliament on Friday, Prime Minister Sanae Takaichi noted that global economies are facing severe fluctuations linked to volatility from the U.S. mid-term elections. Sharp declines have hit key tech sectors, prompting Tokyo to shield domestic growth through targeted industrial support. The government intends to stabilize the situation by reinforcing sectors where the nation retains a distinct competitive edge.
Indian equity benchmarks surged for a sixth consecutive session, buoyed by declining crude oil prices and continuous foreign institutional inflows. In response to this broad-based rally and technical breakout, NeoTrader identified select trading opportunities across technology, brokerage, and luxury hospitality sectors. These prospective positions balance short-term chart reversals against company-specific operational and cash flow risks.
Precious metals have experienced sharp pullbacks from their early-year peaks, pressured by a hawkish Federal Reserve, a stronger dollar, and domestic regulatory measures. While these macro headwinds have prompted some fund managers to adopt underweight allocations, long-term fundamentals remain supported by global central-bank purchases. Strategic staggered buying is now being recommended to balance defensive stability against high-growth potential ahead of the new cycle.