Diwali bonanza: Investors get Rs 6.9 L cr richer - top reasons behind stock market rally
Indian stock markets experienced a significant rally, adding nearly Rs 6.9 lakh crore to investor wealth ahead of Diwali. The surge is attributed to falling crude oil prices, positive global sentiment following US midterm elections, and increased foreign institutional investment.
Why it matters
The market performance reflects broader economic optimism in India and the sensitivity of emerging markets to global geopolitical and energy trends.
Stock market today: Dalal Street brought an early Diwali bonanza for investors on Thursday, with Sensex soaring over 1,600 points and Nifty50 gaining 2% in early trade. The rally added over Rs 6.9 lakh crore to investors' wealth, as easing crude oil prices, renewed foreign investor buying and improving global sentiment following the US midterm election results lifted market mood.The 30-share BSE Sensex surged 1,609.54 points, or 2.08%, to 78,910.94, while NSE Nifty50 advanced 417.45 points, or 1.74%, to settle at 24,378.05.Dalal Street extended its winning streak to six consecutive sessions on Thursday, building on Wednesday's gains when the Sensex climbed nearly 384 points to close at 77,301, its highest level in more than two months. The Nifty also advanced 150 points to settle at 23,961.
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