Mumbai (Maharashtra) [India], November 5 (ANI): Indian stock markets ended sharply higher on Thursday, with the Sensex surging over 2,000 points and the Nifty settling above the 24,500 mark, supported by easing crude oil prices and positive global cues following Democrats' gains in the US midterm elections.
Sensex closed higher at 79,310.01, up 2008.61 points or 2.60 per cent against the previous close of 77,301.40. Nifty closed at 24,536.60, up 576.00 points or 2.40 per cent against the previous close of 23,960.60.
Sectorally, all broad market indices ended in the green with Nifty 100 emerging as top gainer, surging 2.23 per cent. Most sectoral indices ended higher with Nifty Financial Services and Nifty Bank emerging as top gainers, surging over 4 and 3 per cent each. Meanwhile, correction was seen in Nifty chemicals and media.
On NSE, Bajaj Finance, Shriram Finance, Indi Go, Maruti, TMPV, M&M, ICICI Bank, BSE, Bajaj Finserv, Asian Paint, Eternal, Axis Bank, Eicher Motor, Infosys, HDFC Bank, TCS, SBIN, Grasim, LT, Tech Mahindra, Tata Steel, JSW Steel, Bajaj-Auto, Titan, Hindalco among others were the top gainers. Apollo Hospital, ONGC, NTPC, BEL, Adani Airports, Cipla, Trent among others were the top losers.
Likewise, on BSE, Bajaj Finance, Indi Go, Maruti, M&M, ICICI Bank, Asian Paint, Bajaj Finserv, Axis Bank, Eternal, Infosys, HDFC Bank, Sun Pharma, LT, TCS, Tech Mahindra, Reliance, Kotak Bank, Titan, Tata Steel, Hindustan Unilever among others were the top gainers. NTPC, BEL, Adani Airports, ITC, Power Grid, Bharti Airtel were the top laggards.
In the commodity market, Brent crude was trading at around USD 96.02 per barrel while crude oil was trading at around USD 88.56 per barrel, at the time of reporting.
Ajit Mishra, SVP, Research, Religare Broking, noted, "The broad-based strength in heavyweight stocks across sectors has helped the Nifty recover its losses over the past three months, putting the index on course to retest its August high of around 24,800. The renewed momentum in banking and financial stocks is an additional positive. We therefore maintain a positive market bias, while emphasising disciplined stock selection and prudent overnight risk management in anticipation of potential volatility ahead."
Market analyst Vipin Dixena noted, "Today's rally is encouraging because it is being supported by multiple factors rather than just short covering. Lower crude prices, improving foreign investor flows and expectations of reduced geopolitical uncertainty are helping sentiment. The improving macro environment is positive for India. Meanwhile, the first-half FY27 earnings performance suggests improving earnings visibility in several large-cap sectors."
"Nifty has moved decisively above the 24,200 mark, improving its short-term technical structure. The 24,200–24,100 zone is now an important support area, while 24,400–24,500 is the immediate resistance zone. A sustained move above 24,500 could extend the recovery further. Given the sharp rally over the last few sessions, investors should also be prepared for intermittent profit booking," he said. (ANI)
Sensex surges over 2,000 points, Nifty tops 24,500 as easing oil prices, Democrats' US midterm gains lift sentiment
