The equity benchmark indices extended their winning streak to a sixth consecutive session on Thursday (November 5), with the Sensex surging 2,008 points to 79,310 and the Nifty gaining 576 points to 24,536. The Nifty Bank jumped 1,860 points to 57,774, marking its biggest single-day gain since April 2026.
The six-session rally is the longest since November 2025. The combined market capitalisation of BSE-listed companies surged by over ₹8 lakh crore during Thursday’s session, crossing ₹500 lakh crore for the first time and taking the total valuation back above $5 trillion.
Over six sessions, investors’ wealth has increased by nearly ₹30 lakh crore. The Nifty is on track to post its biggest weekly gain since January 2021.
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Here are five factors driving the market rally:
1. Brent crude posts biggest weekly fall since April 2020
Brent crude has declined 19% so far this week, marking its biggest weekly fall since April 2020. The sharp correction supported buying in crude-sensitive sectors, including aviation and automobiles. IndiGo gained nearly 6%.
2. Banking Heavyweights Power Nifty’s gains
ICICI Bank and HDFC Bank together contributed over 200 points to the Nifty’s rise. The Nifty Bank gained 1,860 points to 57,774, recording its biggest single-day gain since April 2026.
3. Auto And Commercial Vehicle Stocks Rally
Automobile, auto ancillary and commercial vehicle stocks advanced, tracking lower crude prices and Q2 earnings. Ashok Leyland surged 10%, while Mahindra & Mahindra gained over 5% after reporting in-line Q2 results.
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4. Strong Q2 Results Trigger Buying In Select Stocks Uno Minda surged over 11% following strong Q2 results. Newly listed Tonbo Imaging jumped 20% after reporting a profit against a loss in the year-ago period.
5. Weak Earnings Trigger Sharp Selling In Select Stocks
The rally was not broad-based across individual stocks. PI Industries fell over 19%, while Cummins India dropped 14% following their Q2 results.
From the Sensex basket, Bajaj Finance Ltd, Shriram Finance Ltd, InterGlobe Aviation Ltd, Mahindra & Mahindra Ltd, ICICI Bank Ltd and Asian Paints Ltd were the major gainers. Oil and Natural Gas Corporation Ltd, NTPC Ltd, Coal India Ltd, Hindustan Aeronautics Ltd, ITC Ltd and Bharti Airtel Ltd were the biggest laggards.
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Sensex, Nifty extend winning streak to 6 sessions: 5 factors driving D-Street rally