Sensex, Nifty Rally Nearly 2% Ahead Of Dhanteras; Investors Gain Rs 7.35 Lakh Crore

Mumbai, Nov 5: Indian equity markets witnessed a strong rally on Thursday, with benchmark indices Sensex and Nifty surging nearly 2% each in one of their biggest single-day gains of 2026. The rally came ahead of Dhanteras, supported by falling crude oil prices, easing bond yields and renewed hopes of de-escalation in the US-Iran conflict.

The BSE Sensex jumped 1,470.42 points, or 1.90%, to 78,771.82, while the NSE Nifty 50 gained 431.40 points, or 1.80%, to 24,380.15 during the session. Both indices extended their winning streak to six consecutive sessions, touching their highest levels since August.

The rally added nearly Rs 7.35 lakh crore to investors’ wealth, taking the total market capitalisation of BSE-listed companies to Rs 500.79 lakh crore.

Among the major gainers, IndiGo, Maruti Suzuki, Bajaj Finance, Mahindra & Mahindra and Asian Paints advanced 4-5%. Banking, IT, automobile and financial stocks also witnessed strong buying. However, NTPC, Power Grid, Bharti Airtel and ITC remained among the laggards.

The Nifty Bank index gained over 2.3%, while midcap and smallcap indices advanced 1-2%. The IT and auto indices also registered gains of over 3%.

Market sentiment improved following a nearly 10% decline in Brent crude prices to around $94 per barrel, easing US and Indian bond yields and a softer dollar. Expectations of a possible reduction or abolition of long-term capital gains (LTCG) tax in the upcoming Union Budget also boosted investor optimism.

According to Dr V K Vijayakumar, Chief Investment Strategist at Geojit Investments, falling crude prices, improving corporate earnings and expectations of a resolution to the US-Iran conflict have strengthened the outlook for Indian equities.

Foreign institutional investors (FIIs) have also turned net buyers, purchasing equities worth Rs 20,834 crore in the cash market over the last four trading sessions, further supporting the rally.

Meanwhile, market experts believe the outcome of the US elections could influence global investment flows. Potential regulatory tightening in the US technology and artificial intelligence sectors may encourage global investors to diversify towards emerging markets such as India.

However, experts have cautioned that prolonged political uncertainty in the US, a possible correction in AI stocks and renewed concerns over global economic growth could pose risks to the rally.

With domestic earnings improving and foreign inflows showing signs of recovery, investors are hoping the positive momentum will extend into the new Samvat 2083.