Sensex Rises 384 Points, Nifty Closes Above 23,950 As Indian Stock Market Extends Winning Streak

The Indian stock market continued its upward momentum on Wednesday, November 4, with benchmark indices Sensex and Nifty 50 extending their gains for the fifth consecutive trading session. The rally was supported by buying in banking, metal, realty and consumer stocks, although losses in information technology shares limited the overall market advance.

The BSE Sensex closed at 77,301.40, gaining 383.55 points or 0.50 per cent. Meanwhile, the NSE Nifty 50 advanced 149.75 points, or 0.63 per cent, to settle at 23,960.60. The continued rise reflected positive investor sentiment and sustained buying interest in several heavyweight stocks. Among the leading performers on the Nifty 50 were Bharat Electronics, Adani Enterprises and Titan Company, which recorded notable gains during the session. Sectoral indices also witnessed broad-based buying, with FMCG, realty, metal and media stocks emerging among the stronger performers.

However, the Nifty IT index remained under pressure, declining by more than 1 per cent and becoming the weakest-performing sector. The broader market also outperformed the benchmark indices, with the Nifty MidCap 100 rising 1.55 per cent and the Nifty SmallCap 100 gaining 2 per cent.

Global market developments remained an important factor influencing investor sentiment. Several Asian markets traded lower amid uncertainty surrounding the US midterm election results and concerns over international economic developments. Japan’s Nikkei and South Korea’s KOSPI recorded losses.

Meanwhile, Brent crude oil prices traded near $103 per barrel, extending recent declines as investors assessed developments involving the US-Iran and Russia-Ukraine conflicts. Institutional investment activity also supported domestic equities. Foreign Institutional Investors (FIIs) purchased shares worth approximately Rs 6,837 crore on November 3, while Domestic Institutional Investors (DIIs) sold equities worth around Rs 3,679 crore.

In primary markets, Vedant Poly Fabs’ IPO, valued at Rs 56.68 crore, entered its final subscription day, while M.K.Sons Fine Jewels was scheduled to make its stock market debut.