Mumbai (Maharashtra) [India], November 5 (ANI): Indian stock markets witnessed a pointy rally on Thursday opening, with the Sensex surging 1,609.54 factors, or 2.08 per cent, to shut at 78,910.94, whereas the Nifty 50 jumped 417.45 factors, or 1.74 per cent, to settle at 24,378.05, as easing crude oil costs and renewed international investor shopping for lifted market sentiment.
The rally got here amid bettering international sentiment following the November 2026 US midterm elections, during which the Democratic Party gained management of each the Senate and the House of Representatives, delivering a major political setback to President Donald Trump’s administration.
Brent crude costs declined sharply under USD 100 per barrel and have been buying and selling at USD 94 per barrel on the time of reporting. The decline provided reduction to an oil-import-dependent economic system similar to India and supported sentiment in home equities.
Foreign buyers additionally infused round Rs 17,235 crore into Indian equities in simply three buying and selling periods of November, reflecting a return of abroad institutional shopping for.
Ponmudi R, CEO of Enrich Money, mentioned, ‘The sharp advance displays bettering international danger sentiment, supported by decrease crude costs and renewed institutional shopping for. However, the flexibility of the benchmarks to maintain these positive factors past the opening trades will probably be essential in figuring out whether or not the optimistic momentum can translate right into a broader upward transfer. Crude oil costs have retreated sharply; the decline provides some reduction to an oil-import-dependent economic system similar to India’.
He additional added, ‘Foreign institutional buyers have returned as important consumers, the revival in abroad fund flows marks an encouraging growth for home equities, notably as sustained institutional participation may lend higher depth to the continuing market restoration’
The rally was broad-based, with the Nifty Midcap 100 rising 1.46 per cent and the Nifty Smallcap 100 gaining 1.49 per cent. The Nifty 100 additionally superior 1.78 per cent.
Among sectoral indices, Nifty Private Bank led the positive factors with an increase of two.55 per cent, adopted by Nifty Realty, which gained 1.92 per cent. Nifty IT superior 1.72 per cent, Nifty Auto rose 1.66 per cent, Nifty Consumer Durables gained 1.52 per cent, Nifty Media climbed 1.36 per cent, whereas Nifty FMCG superior 1.08 per cent.
Meanwhile, treasured metals additionally witnessed positive factors. Gold rose 1.48 per cent to Rs 1,45,356 per 10 grams of 24-carat purity, whereas silver gained 1.34 per cent to Rs 1,90,255 per kg.
Anindya Banerjee, Head of Commodity and Currency Research, Kotak NEO mentioned, ” In our reading, both metals have now fully corrected the post-Diwali froth of 2025, and after that cleansing they are in a sweet spot from which the next bull run can begin. The one condition is oil: as long as crude does not boil again, bullion can do well. And oil boils only if a fresh round of war breaks out in West Asia.”
In Asian markets, the Straits Times rose 0.10 per cent to five,297, whereas Hong Kong’s Hang Seng superior 3.36 per cent to 24,723. Japan’s Nikkei 225 declined 0.58 per cent to 61,825, Taiwan Weighted fell 1.67 per cent to 42,241, and South Korea’s KOSPI dropped round 4 per cent to five,459. (ANI)