Mumbai, November 5, 2026 (Yes Punjab News)
Indian equity benchmarks surged on Thursday, extending their winning streak to a fifth consecutive session, as falling crude oil prices boosted investor sentiment amid hopes of a quicker resolution to the West Asia conflict following the Democrats’ victory in the US midterm elections.
The Sensex jumped 2,008.61 points, or 2.6 per cent, to close at 79,310.01, while the Nifty gained 576 points, or 2.4 per cent, to settle at 24,536.60. Both indices recorded one of their strongest single-day gains in recent months.
The rally added substantial wealth to investors, with the market capitalisation of BSE-listed companies rising by Rs 7.03 trillion to Rs 501.45 trillion, compared with Rs 494.42 trillion in the previous session.
The broader market also advanced, with the Nifty MidCap 100 gaining 1.87 per cent and the Nifty SmallCap 100 rising 0.56 per cent. Auto, real estate and financial stocks led the sectoral gains, with the Nifty Auto, Nifty Realty, Nifty Financial Services and Nifty Private Bank indices emerging as top performers. The Nifty Chemical and Nifty Media indices, however, lagged.
Among individual stocks, Bajaj Finance, Shriram Finance and Mahindra & Mahindra ended among the top losers in the Nifty pack.
Market experts said the Nifty had strengthened its technical outlook by reclaiming all key moving averages on the daily chart, signalling a bullish trend reversal. They identified 24,200 as immediate support and 24,000 as crucial positional support, while placing resistance at 24,800 and 25,000. They also advised a buy-on-dips strategy.
Experts attributed the rally to easing concerns over energy prices and geopolitical risks. Lower crude oil prices are expected to improve India’s inflation outlook, ease pressure on corporate margins and reduce the country’s import bill.
Market watchers said the near-term outlook remained constructive, with crude prices, bond yields, corporate earnings and foreign fund flows supporting sentiment. However, they noted that the rally’s sustainability would depend on continued market breadth and tangible progress towards de-escalation in West Asia.
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