Indian equities jump as oil plunge and US Democratic win spur foreign buying
India's Sensex surged by more than 2,000 points on 3 November, driven by an 8% drop in crude oil, fresh foreign investor buying and a rally in U. S. markets after the Democrats secured control of Congress, according to NDTV. The Nifty 50 also climbed 2. 4% to 24,536. 60. Earlier that day, The Hindu reported that both the Sensex and Nifty jumped after Brent crude fell over 1% and U.
S. midterm results shifted Congress to Democratic control, boosting fund inflows and raising hopes of a U. S. –Iran de-escalation. Livemint noted that the rupee rose to 94. 35 per dollar on the same factors, though analysts warned of possible weakness in the coming months.