Indian equity benchmarks Sensex and Nifty opened with massive gains on Thursday morning. Crude oil prices slumped to a two-month low, fueling investor optimism across global markets.
Midterm Results Boost Global Sentiment
Investors bet that the Democrats’ victory in the US midterm elections could hasten an end to the US-Israeli war on Iran. Democrats seized control of both Congressional chambers.
Early Morning Trading Gains Strength
Sensex jumped over 1,300 points at the opening bell. It stood at 78,722.77 around 9:17 am, extending gains by 1,421.37 points or 1.84 per cent.
Momentum Accelerates After Opening Bell
Buying momentum accelerated further during early trade. By 9:50 am on Thursday, the 30-share equity benchmark index surged by more than 1,600 points.
Futures Signal Strong Market Start
GIFT Nifty futures traded at 24,295.5 as of 8:01 am. The figures signaled a positive start for the benchmark Nifty 50 index following Wednesday’s closing session.
Sensex Extends Multi-Day Rally
Sensex rose 383.55 points to settle at 77,301.40 on Wednesday, its highest close in two months. The index surged over 4,000 points across five consecutive trading days.
Foreign Investors Return to Equities
Foreign institutional investors bought Indian shares worth ₹72,840 crore on Wednesday. This marked their fourth consecutive session of net buying after heavy earlier sell-offs.
Global Oil Prices Drop Sharply
Brent crude futures fell one per cent to $93.5 per barrel on Thursday. The drop extended losses after crude prices plunged 8.7 per cent during the previous session.
Political Shifts Ease Market Uncertainty
Democrats achieved major gains in the US midterm elections. The political outcome offered greater clarity and eased long-standing uncertainty that previously weighed on global stock markets.
Policy Rejection Drives Rally
Voters delivered a strong rebuke to President Donald Trump. Markets reacted favorably as concerns over administration tariff policies and Middle East conflicts began to ease.
Domestic Equities Show Recovery Signs
The Nifty 50 and BSE Sensex gained 5.6 per cent over five sessions. Sustained foreign buying, falling crude prices, and strong corporate earnings supported the five-month high streak.
Analysts Highlight Macroeconomic Outlook
“Unlike the earlier gradual decline, the magnitude of this move can materially improve India’s near-term macro and earnings outlook if sustained,” stated HST Wealth CEO Hariselvan Radhakrishnan.
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