Sensex Surges Over 1,400 Points, Nifty Crosses 24,350: Key Reasons Behind Today's Stock Market Rally (Nov 5, 2026)

Early fires works are being witnessed in the Indian markets on Thursday, November 5. Indian equity markets extended their rally on Thursday, November 5, 2026, with the Sensex and Nifty recording gains of over 1.5%.  

At 11:13 AM, the Sensex was up 1,414 points at 78,718, while the NIFTY50 index gained 409 points to trade at 24,370. Bank Nifty jumped 1,150 points, or 2.06% crossing the important psychological 57,000 mark. 

The rally added more than ₹6.9 lakh crore to investors' wealth, supported by four major developments, as per news report.  

1. Crude Oil Prices Decline Following US Midterm Election Results

As per news reports, crude oil prices declined amid expectations that Democratic victories in the US midterm elections could increase pressure for a diplomatic resolution to the ongoing conflict in West Asia. 

January Brent crude futures fell 0.77% to $93.89 per barrel, while December WTI futures declined 1.33% to $86.95. 

Meanwhile, US Energy Information Administration data showed crude inventories declining by 0.9 million barrels to 409.8 million barrels for the week ended October 30. 

Lower crude prices benefit India by reducing its oil import bill and easing inflationary pressures. 

2. FIIs Turn Net Buyers for Four Consecutive Sessions

Foreign Institutional Investors (FIIs) have returned to Indian equities, recording net purchases of approximately ₹20,834 crore over four trading sessions. 

On November 4 alone, FIIs purchased shares worth ₹7,284 crore on a net basis, providing support to the ongoing market rally. 

3. Indian Rupee Strengthens Against US Dollar

As per CNBC TV18, the Indian rupee opened at 94.35 against the US dollar on Thursday, compared with Wednesday's closing level of 94.64. 

It subsequently strengthened to 94.33, touching a 15 day high. Falling crude oil prices and foreign capital inflows supported the domestic currency. 

4. Banking Stocks Lead Gains, Broader Markets Participate

Banking and financial stocks contributed significantly to Thursday's rally. ICICI Bank, HDFC Bank, Bajaj Finance and Axis Bank collectively contributed approximately 176 points to the Nifty 50's gains. 

The buying extended beyond heavyweight stocks, with the Nifty Midcap index rising over 1.5 per cent and the Smallcap index gaining 0.80%. Market breadth remained positive, with advancing stocks outnumbering declining stocks. 

Read More: Cummins India Share Price Down Over 10%; Reports 4% Rise in Q2FY27 Sales! 

Conclusion 

The market rally was supported by lower crude oil prices, sustained FII purchases, rupee appreciation and buying across banking and broader market stocks. These developments helped the benchmark indices extend their recent gains. 

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