The domestic equity markets opened Thursday’s session on a strong note, extending their winning streak to a sixth consecutive trading session as festive cheer, easing crude oil prices and positive global
cues boosted investor sentiment. The sharp rally also comes after Democrats secured control of both chambers of Congress in the midterm elections, with investors betting that the shift in political power could rein in President Donald Trump’s policy decisions and reduce uncertainty for businesses and financial markets.
The Sensex surged 1,385 points, or 1.79%, to 78,686.73 in early trade, while the NSE Nifty 50 jumped 384 points, or 1.60%, to 24,344.90. The rally follows Wednesday’s strong gains, with investors continuing to build on the recent recovery in domestic equities.
The buying momentum was broad-based, with banking, financial services, auto, information technology and realty stocks leading the gains. The Nifty Financial Services index was among the top sectoral performers, rising 2.31%, while the Nifty Auto index advanced 2.22%. Nifty IT gained nearly 2%, and Nifty Realty climbed 2.08%.
Among individual stocks, InterGlobe Aviation (IndiGo) led the Nifty 50 gainers, rising 5.79%, followed by Maruti Suzuki, which advanced 4.35%. Bajaj Finance gained 4%, while Asian Paints, UltraTech Cement and Mahindra & Mahindra also traded firmly higher.
Banking heavyweights supported the rally, with HDFC Bank, Axis Bank, ICICI Bank and State Bank of India registering gains. Information technology majors TCS, Infosys and Tech Mahindra were also among the notable gainers.
The broader market participated in the rally, with the Nifty Midcap 100 rising 1.24% and the Nifty Smallcap 100 gaining 1.31%. The Nifty 500 advanced 1.48%, indicating widespread buying interest across market segments.
Meanwhile, India VIX, the market’s volatility gauge, declined 3.09% to 14.72, suggesting some easing in near-term market nervousness.
