Mumbai, November 5 (TNA) Indian equity markets extended their winning streak for a sixth consecutive session on Thursday, with benchmark indices recording their strongest single-day gains in seven months. The BSE Sensex surged 2,008.61 points, or 2.60 per cent, to close at 79,310.01. The NSE Nifty50 gained 576 points, or 2.40 per cent, and settled at 24,536.60, reclaiming the 24,500 mark.
Broad-Based Rally
The rally was broad-based, with buying seen across major sectors. Banking, automobile, metal, realty and other rate-sensitive stocks attracted strong interest as investors responded positively to improving global risk sentiment.
The sharp advance followed gains in global markets after the US midterm election results. Falling crude oil prices and continued foreign-investor buying also supported sentiment on Dalal Street.
Six-Day Winning Streak
Thursday’s advance extended the market’s winning run to six sessions. During this period, benchmark indices recovered sharply from recent weakness, supported by renewed institutional buying and optimism over global economic conditions.
The Sensex’s gain of more than 2,000 points marked one of its biggest single-session advances in recent months. The Nifty’s close above 24,500 further strengthened the market’s technical outlook, although analysts cautioned that such a rapid rise could lead to intermittent profit-booking.
Investor Wealth Rises
The strong rally lifted the combined market capitalisation of companies listed on the BSE to around ₹501 lakh crore, up from approximately ₹473 lakh crore on October 28, according to market reports. Investors will now track global market cues, crude oil prices, foreign portfolio flows and upcoming corporate developments for direction in the next trading session.