The Indian stock market extended its bull run to the sixth consecutive trading session on Thursday, boosted by easing global geopolitical and energy risks following the US midterm election outcome.
The Sensex jumped 1,433.60 points, or 1.85%, to trade at 78,735.00, while the Nifty 50 was up 383.60 points, or 1.60%, at 24,343.55.
Market sentiment were supported by a sharp drop in crude oil prices after the Democratic win in the US midterm elections strengthened expectations that Washington may seek to de-escalate the US-Iran war in the Middle East.
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“With tailwinds for the economy getting stronger, the bullish trend in the market is set to continue. The strongest positive for the market is the sharp 10% fall in Brent crude to around $94 level. This decline is on hopes that a resolution to the US-Iran conflict is likely soon since this conflict and the consequent high crude prices contributed significantly to the Republican rout in the mid-terms,” said Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Investments Limited
The decline in crude prices is happening when the Indian economy is showing great resilience and corporate earnings are showing significant improvement, he added.
Here are three key factors behind the rally in the Indian stock market today:
Fall In Crude Oil Prices
Crude oil prices steadied after crashing more than 8% in the previous session after Democrats won the US midterm elections. Brent crude futures eased 0.02% to $94.60 a barrel, while US West Texas Intermediate crude was at $87.93 a barrel, down 0.22%.
FII Buying
Foreign investors tuned positive on the Indian stock market. FIIs net bought Indian equities worth Rs 7,284.03 crore on Wednesday, their highest single-day buying since 28 October 2025.
FIIs have net bought domestic equities for four sessions in a row. So far in November, FIIs have bought over Rs 17,000 crore worth of equities. This comes after almost Rs 90,000 crore worth of selling in October and September.
Technicals
Nifty 50 opened decisively above its 200-day SMA near 24,003 after five consecutive positive sessions.
According to Hariselvan Radhakrishnan, Founder & CEO of HST Wealth, holding above 24,150–24,000 could preserve momentum toward 24,400, while a retreat below 24,000 would indicate that the opening was driven primarily by overnight repricing.
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