Indian equities close higher for fifth straight session, Sensex up 384 points
The Sensex rose 0.5% to 77,301 and the Nifty50 gained 0.6% to 23,961, extending a five-day winning streak driven by gains in FMCG, realty and metal stocks.
Indian equity markets extended their rally for a fifth consecutive day on Wednesday, with the benchmark Sensex climbing 383.55 points (0.5%) to finish at 77,301.40 and the Nifty50 rising 149.75 points (0.63%) to close at 23,960.60. Gains were led by shares of Bharat Electronics, Adani Enterprises and Titan Company, while the broader market saw the Nifty MidCap 100 and Nifty SmallCap 100 rise 1.55% and 2.0% respectively.
Sector performance was mixed; the Nifty IT index slipped more than 1%, making it the day's weakest sector, whereas Nifty Media, Metal, FMCG and Realty indices posted gains. Market breadth remained positive, with mid-cap and small-cap stocks outperforming large-cap indices.
Analysts noted that future market direction will depend on upcoming quarterly earnings, oil price movements, geopolitical developments in the Middle East, U.S. bond yields and foreign institutional investor flows. Foreign Institutional Investors (FIIs) were net buyers of ₹6,837 crore on November 3, while Domestic Institutional Investors (DIIs) recorded net sales of ₹3,679 crore.
Technical outlooks highlighted the 23,850–23,870 zone as immediate support, with a break below potentially prompting short-term profit taking toward 23,700. On the upside, the 24,050–24,070 range was identified as a key hurdle; a sustained breakout could attract short-covering and push the index toward 24,230.