The Indian stock market recorded a sharp rally on Friday, November 6, 2026, on the occasion of Dhanteras, with benchmark indices posting gains for the seventh consecutive trading session. The Sensex surged more than 1,700 points, while the Nifty 50 crossed the significant 25,000 mark. Banking stocks led the gains, although midcap and smallcap indices ended lower.
After opening on a subdued note and witnessing initial volatility, the domestic market gained momentum during the afternoon session. Buying interest in heavyweight banking stocks helped the benchmark indices recover despite substantial declines in overseas markets.
The BSE Sensex closed at 81,028.02, gaining 1,718.01 points, or 2.17%. Meanwhile, the NSE Nifty 50 advanced 493.75 points, or 2.01%, to settle at 25,030.35.
Both benchmark indices extended their winning streak to seven consecutive trading sessions. On Thursday, the Sensex had gained 2,008.61 points to close at 79,310.01, while the Nifty had risen 576 points to reach 24,536.60.
The market opened almost flat on Friday, with investors initially monitoring weakness in international markets. However, increased buying in select heavyweight stocks during the afternoon session pushed both benchmark indices higher.
Despite the substantial gains in the Sensex and Nifty, the broader market did not participate in the rally uniformly.
Banking and automobile stocks played a significant role in supporting the benchmark indices during Friday's session.
Among the leading gainers in the Nifty were ICICI Bank, Mahindra & Mahindra, HDFC Bank, Titan Company and Axis Bank. ICICI Bank shares advanced approximately 4.75%.
Shares of Mahindra & Mahindra and Titan Company also closed with notable gains. Buying interest in HDFC Bank and Axis Bank further supported the market.
These companies carry significant weightage in the Sensex and Nifty. Consequently, gains in their shares contributed substantially to the rise in the benchmark indices.
On the other hand, Eicher Motors, Power Grid Corporation, Bharat Electronics, Adani Enterprises and Tata Motors Passenger Vehicles ended lower. However, gains in banking and other heavyweight stocks outweighed the declines in these companies.
Sectoral performance remained mixed during Friday's trading session.
The Nifty Bank, private banking, pharmaceutical and consumer durables sectors recorded gains of approximately 1% to 3%.
In contrast, the energy, media and realty sectors declined by around 1%.
Selling pressure was more pronounced in midcap and smallcap stocks compared with large-cap companies. The Nifty Midcap index closed 0.2% lower, while the Smallcap index declined 0.8%.
Both indices had recorded gains over the previous four consecutive trading sessions, but the upward trend ended on Friday.
The broader market also witnessed more declining stocks than advancing stocks. Approximately 1,681 shares closed higher, while 2,400 shares registered losses. Another 148 shares remained unchanged.
Alongside the equity market rally, the Indian rupee also strengthened against the US dollar on Friday.
The rupee appreciated 56 paise to close at 93.91 per dollar, compared with Thursday's closing level of 94.47 per dollar.
The decline in crude oil prices and renewed buying by foreign investors in Indian equities were identified as important factors supporting the domestic currency.
Foreign Institutional Investors (FIIs) made net purchases of approximately Rs 15,000 crore in the Indian stock market on Thursday. This was among the largest single-day buying figures recorded in several years.
India imports a substantial portion of its crude oil requirements. Consequently, lower international crude oil prices can help reduce the country's import expenditure and ease pressure on the rupee.
