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Sensex 79,310.01 +2.60%Nifty 50 24,536.60 +2.40%₹ / $ 94.47

EconomyMarkets

Sensex rises 383 points for a fifth straight gain as BEL leads and smallcaps jump 2%

The Nifty closed at 23,960.6 as realty and defence shares rallied, crude oil eased and foreign funds kept buying, while smaller companies outpaced the benchmarks.

From the editorial desk · MumbaiPublished
The Bombay Stock Exchange building on Dalal Street, Mumbai (file photo)
The Bombay Stock Exchange building on Dalal Street, Mumbai (file photo)Photo: Elroy Serrao / Wikimedia Commons, CC BY-SA 2.0

Key points

  1. The Sensex closed up 383.55 points at 77,301.4, its fifth gain in a row.
  2. Bharat Electronics was the top Nifty gainer, up 4.71%.
  3. The Nifty Smallcap 100 rose 2%, ahead of the main indices.

The Sensex rose for a fifth straight session on Wednesday, adding 383.55 points, or 0.5%, to close at 77,301.4, as buying in realty and defence shares, softer crude oil and steady foreign inflows kept the rally going.

The Nifty 50 gained 149.7 points, or 0.63%, to finish at 23,960.6, its highest close of the run. Breadth on the index was firm, with 36 of its 50 shares ending higher and 14 lower.

Defence and smaller shares lead

Bharat Electronics was the best performer on the Nifty, up 4.71%, as defence stocks drew buyers. Adani Enterprises climbed 4.47%, Titan Company 4.22%, Jio Financial Services 3.73% and Max Healthcare Institute 3.53%.

The broader market did better than the benchmarks. The Nifty Midcap 100 rose 1.55% to 59,505.5, and the Nifty Smallcap 100 jumped 2% to 19,026.4.

Top Nifty gainers on November 4

  • +4.71% Bharat ElectronicsLed the index as defence shares rallied.
  • +4.47% Adani EnterprisesSecond-biggest gainer on the Nifty.
  • +4.22% Titan CompanyThird on the list of gainers.
  • +3.73% Jio Financial ServicesAhead of Max Healthcare, up 3.53%.

Oil, foreign money and Washington

Crude oil eased to about $102 a barrel after touching $104 during the day, a relief for India, which buys most of its oil abroad. Foreign investors were net buyers of ₹6,836.81 crore of shares on Tuesday, while domestic institutions sold ₹3,678.85 crore.

Traders also kept an eye on the US midterm count, which has handed the Democrats control of both the Senate and the House, and on a pullback in US Treasury yields. Most Asian markets ended higher, with Shanghai up 2.12% and Hong Kong’s Hang Seng up 1.4%, though Tokyo’s Nikkei fell 1.9%.