Indian Stock Markets Rally for Sixth Straight Session on Falling Crude Oil Prices

Indian equity markets continued their winning streak for the sixth consecutive session on Thursday, supported by positive global cues and a sharp decline in crude oil prices. The benchmark indices opened with strong gains, with the Sensex surging more than 1,600 points and the Nifty moving above the 24,000 mark. The combined market capitalisation of companies listed on the BSE increased by nearly ₹7 lakh crore, adding significantly to investors' wealth.

At around 9:50 am, the Sensex was trading 1,605 points higher at 78,906, while the Nifty gained 453 points to reach 24,414. Shares across almost all sectors, except pharmaceuticals, were trading in positive territory. The automobile index climbed 2.5%. InterGlobe Aviation, Shriram Finance, Asian Paints, Maruti Suzuki and Bajaj Finance were among the top Nifty gainers, while Dr. Reddy's Laboratories, Cipla, Coal India and Bharti Airtel recorded marginal losses.

Key Reasons Behind the Rally

• Strong Wall Street performance: US markets rallied following the midterm election results. The Dow Jones surged more than 1,500 points, while the S&P 500 and Nasdaq gained 1.58% and 1.44%, respectively.