Dalal Street Delivers Diwali Bonanza as Sensex Surges 1,609.54 Points
Stock market today brought an early Diwali bonanza for investors on Thursday. With the 30-share BSE Sensex surging 1,609.54 points, or 2.08%, to 78,910.94. Meanwhile, NSE Nifty50 advanced 417.45 points, or 1.74%, to settle at 24,378.05.
The rally added over Rs 6.9 lakh crore to investors' wealth. As easing crude oil prices, renewed foreign investor buying, and improving global sentiment following the US midterm election results lifted market mood.
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"The sharp advance reflects improving global risk sentiment, supported by lower crude prices and renewed institutional buying," said Ponmudi R, CEO of Enrich Money. The US midterm election results also contributed to the positive mood across markets. With the Democratic Party winning control of both the Senate and the House of Representatives.
Crude oil prices slide below $95 was one of the biggest factors supporting domestic equities on Thursday. Brent crude, the global oil benchmark, slipped below $95 per barrel, while US West Texas Intermediate (WTI) crude fell below $90. Brent crude futures declined 50 cents, or 0.53%, to $94.12 per barrel, while WTI crude fell 61 cents, or 0.69%, to $87.51.
| Financial Metric | Reported Value |
|---|---|
| Index Movement | Climbed 383.55 points |
| Percentage Shift | 2.08% |
| Financial Volume / Value | Rs 6.9 lakh crore |
| Brent Crude Rate | $95 per barrel |
Foreign investors return to Dalal Street, with provisional data showing that foreign investors bought Indian shares worth Rs 72.84 billion ($769.65 million) on Wednesday. This marked their fourth consecutive session of buying. Rupee also extended its gains against the US dollar.
Opening at a two-week high of 94.35 per dollar on Thursday, up 0.3% from its previous close.
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Thursday's market momentum was widespread, with investors across the board pushing stocks higher. The majority of the major sectors posted gains, with 14 of the 16 sectors finishing in the green. The mid-cap and small-cap indices also saw significant increases, with both registering gains of over 1%.
The Nifty Private Bank sector was the standout performer. Surging 2.55% to the top of the pack, followed closely by Nifty Realty, which rose 1.92%.
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I write about the forces shaping business and the global economy, from startup growth and changing markets to international trade and policy. My work focuses on breaking down complex developments into clear, practical insights and understanding what they could mean for businesses, investors, and the wider economy.
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