The Indian stock market recorded a sharp rally on Thursday, November 5, 2026, ahead of Dhanteras, extending its gains for the sixth consecutive trading session. Buying activity, which began at the opening bell, continued throughout the session, pushing the Sensex above 79,000 and the Nifty beyond the 24,500 mark.
The BSE Sensex surged 2,008.61 points, or 2.60%, to close at 79,310.01. Meanwhile, the NSE Nifty gained 576 points, or 2.40%, to settle at 24,536.60.
The rally was supported by favourable signals from US markets, declining crude oil prices and buying by foreign investors. Thursday's advance marked the Indian stock market's biggest single-day gain in the past seven months.
The market had closed lower on Wednesday, with the Sensex at 77,301.40 and the Nifty at 23,960.60. Thursday's gains extended the market's winning streak to six consecutive trading sessions. However, the benchmark indices remain in negative territory compared with the beginning of the year.
Automobile and financial stocks made the largest contributions to Thursday's market rally. The Nifty Auto index advanced 4.14%, supported by buying in shares of Mahindra & Mahindra, Maruti Suzuki and other automobile companies.
The Nifty Financial Services index gained 3.99%. The Private Bank index rose 3.44%, while the Nifty Bank index advanced 3.33%. The public sector banking index closed 3.13% higher.
The real estate sector also recorded buying interest, with its index rising 3.52%. The Consumer Durables index gained 2.32%, while the IT index advanced 2.42%.
However, not all sectoral indices ended in positive territory. The Media index declined 0.84%, while the Energy index fell 0.34%. Pharmaceutical and metal stocks recorded relatively limited gains.
Bajaj Finance emerged as the top gainer among Nifty constituents, with its shares rising 7.65%. Shriram Finance followed with a gain of 6.08%.
Among automobile stocks, Mahindra & Mahindra advanced 5.59%, while Maruti Suzuki gained 5.48%.
InterGlobe Aviation, the parent company of IndiGo, climbed 5.43%. ICICI Bank shares also recorded a gain of 5.33%.
Despite the broader market rally, some stocks ended lower. Apollo Hospitals declined 2.66%. ONGC, NTPC, Coal India and Bharat Electronics also closed in negative territory.
Buying activity extended beyond large-cap stocks, with midcap and smallcap shares also recording gains during Thursday's session.
The Nifty Midcap index closed approximately 1.8% higher, while the Smallcap index advanced 0.6%.
Market breadth remained positive, with 2,775 stocks advancing compared with 1,329 stocks declining. A total of 147 stocks remained unchanged.
The market-wide participation indicated that buying activity extended across several segments rather than remaining concentrated in a limited number of large companies.
Several factors contributed to Thursday's rally in the Indian stock market. Global markets witnessed a favourable environment following the Democratic Party's victory in the US midterm elections.
Investors expect that potential changes in US policies could contribute to a reduction in tensions in West Asia.
The decline in crude oil prices was another factor supporting domestic equities. Brent crude prices fell approximately 8.7% on Wednesday.
India imports most of its crude oil requirements. Consequently, lower international oil prices are expected to ease pressure on the country's import expenditure and inflation.
Buying by foreign portfolio investors (FPIs) also supported the domestic market. On Wednesday, foreign portfolio investors made net purchases of approximately Rs 7,284 crore in the Indian stock market.
