Early Diwali cheer! Sensex rallies over 2,000 points; investor wealth swells by nearly Rs 29 lakh crore in six sessions
Sensex rallied 2,008.61 points or 2.60 per cent to close at 79,310.01. With Thursday's gains, the index has advanced 6,063.98 points over the past six trading sessions.
- Nov 5, 2026,
- Updated Nov 5, 2026 4:37 PM IST
Indian equity markets extended their rally for a sixth consecutive session on Thursday, with the 30-share BSE Sensex pack surging over 2,000 points and the NSE Nifty index closing above the 24,500-mark. The gains came amid a decline in crude oil prices, easing geopolitical concerns and hopes of progress in peace negotiations between the US and Iran. Developments following the US mid-term elections, in which Republicans suffered setbacks as Democrats made gains, remained in focus.
Sensex rallied 2,008.61 points or 2.60 per cent to close at 79,310.01. With Thursday's gains, the index has advanced 6,063.98 points over the past six trading sessions.
Nifty climbed 576 points or 2.40 per cent to settle at 24,536.60. With this, the index has gained 1,837.75 points during the same period.
The sustained rally also lifted investor wealth. The total market capitalisation (m-cap) of BSE-listed companies increased by around Rs 8.11 lakh crore to Rs 501.55 lakh crore on Thursday, compared with Rs 493.44 lakh crore in the previous session.
Over the last six trading sessions, notional investor wealth has increased by Rs 28.92 lakh crore.
Vinod Nair, Head of Research at Geojit Investments, said, "The US mid-term verdict gave Indian equities fresh momentum, with the rally gathering pace on hopes that a more restrained Washington could pave the way for de-escalation in the Iran conflict and tariff policies. As the threat of geopolitical escalation and energy supply shocks faded, crude prices slumped, and a retreat in US Treasury yields and the dollar took further pressure off India's inflation outlook and external accounts."
Nair added, "Financials and autos were at the forefront, riding a wave of renewed risk appetite as the macro picture brightened. Steady recovery in foreign buying and a healthy run of Q2 earnings added substance to the optimism, while improving participation beyond the frontline indices lent the move greater credibility. For now, the stars appear aligned, with crude, yields, earnings and foreign flows all turning in the market's favour, keeping the near-term bias constructive. Yet the rally's staying power will ultimately depend on whether breadth remains strong and whether the hope of de-escalation translates into concrete progress on the ground."
Ankur Punj, Managing Director at Equirus Wealth, noted, "Optimism in the markets continued for the sixth straight session as the Republican Party losing the US mid-term poll raised hopes that geopolitical concerns could ease, helping oil prices cool going ahead. Although AI-heavy Taiwan and South Korean indices crashed amid concerns that returns may not keep pace with multi-billion-dollar investments, domestic equities continued their pre-Diwali rally as renewed FII flows coupled with falling bond yields and strong corporate earnings so far buoyed investor confidence."
Nifty outlook
Nandish Shah, Deputy Vice-President at HDFC Securities, noted that Nifty has decisively reclaimed its 200-day SMA (simple moving average) of 23,997 for the first time since February 26, 2026, a meaningful bullish development that reinforces improving momentum. Going forward, the immediate resistance could be around 24,773, followed by 24,990. On the downside, Shah added that the support has now shifted higher to 24,300.
Indian equity markets extended their rally for a sixth consecutive session on Thursday, with the 30-share BSE Sensex pack surging over 2,000 points and the NSE Nifty index closing above the 24,500-mark. The gains came amid a decline in crude oil prices, easing geopolitical concerns and hopes of progress in peace negotiations between the US and Iran. Developments following the US mid-term elections, in which Republicans suffered setbacks as Democrats made gains, remained in focus.
Sensex rallied 2,008.61 points or 2.60 per cent to close at 79,310.01. With Thursday's gains, the index has advanced 6,063.98 points over the past six trading sessions.
Nifty climbed 576 points or 2.40 per cent to settle at 24,536.60. With this, the index has gained 1,837.75 points during the same period.
The sustained rally also lifted investor wealth. The total market capitalisation (m-cap) of BSE-listed companies increased by around Rs 8.11 lakh crore to Rs 501.55 lakh crore on Thursday, compared with Rs 493.44 lakh crore in the previous session.
Over the last six trading sessions, notional investor wealth has increased by Rs 28.92 lakh crore.
Vinod Nair, Head of Research at Geojit Investments, said, "The US mid-term verdict gave Indian equities fresh momentum, with the rally gathering pace on hopes that a more restrained Washington could pave the way for de-escalation in the Iran conflict and tariff policies. As the threat of geopolitical escalation and energy supply shocks faded, crude prices slumped, and a retreat in US Treasury yields and the dollar took further pressure off India's inflation outlook and external accounts."
Nair added, "Financials and autos were at the forefront, riding a wave of renewed risk appetite as the macro picture brightened. Steady recovery in foreign buying and a healthy run of Q2 earnings added substance to the optimism, while improving participation beyond the frontline indices lent the move greater credibility. For now, the stars appear aligned, with crude, yields, earnings and foreign flows all turning in the market's favour, keeping the near-term bias constructive. Yet the rally's staying power will ultimately depend on whether breadth remains strong and whether the hope of de-escalation translates into concrete progress on the ground."
Ankur Punj, Managing Director at Equirus Wealth, noted, "Optimism in the markets continued for the sixth straight session as the Republican Party losing the US mid-term poll raised hopes that geopolitical concerns could ease, helping oil prices cool going ahead. Although AI-heavy Taiwan and South Korean indices crashed amid concerns that returns may not keep pace with multi-billion-dollar investments, domestic equities continued their pre-Diwali rally as renewed FII flows coupled with falling bond yields and strong corporate earnings so far buoyed investor confidence."
Nifty outlook
Nandish Shah, Deputy Vice-President at HDFC Securities, noted that Nifty has decisively reclaimed its 200-day SMA (simple moving average) of 23,997 for the first time since February 26, 2026, a meaningful bullish development that reinforces improving momentum. Going forward, the immediate resistance could be around 24,773, followed by 24,990. On the downside, Shah added that the support has now shifted higher to 24,300.