Sensex Jumps 2,008 Points as Crude Oil Slips Below $95
Indian equity benchmarks surged on Thursday, November 5, 2026, recording their strongest single-day rally in seven months as international crude oil prices dropped sharply following US election developments. The 30-share BSE Sensex jumped 2,008 points, or 2.60 per cent, to settle at 79,310, while the broader NSE Nifty 50 advanced 576 points, or 2.40 per cent, to finish at 24,536.
Market sentiment was propelled by Brent crude declining 8.7 per cent to $94.62 per barrel and West Texas Intermediate dropping 8.3 per cent to $88.12 per barrel. Domestic equity investors added approximately Rs 7 lakh crore to their portfolio wealth as softer energy import costs eased macroeconomic pressure on India's fiscal deficit and domestic inflation.
Broad-Based Rally Across Benchmark Indices
The trading session began with immediate upward momentum as the Sensex gained 1,300 points at the opening bell while the Nifty advanced over 350 points. Buying interest accelerated into afternoon trade, pushing the Sensex up by 2,000 points and the Nifty higher by more than 600 points before settling near session highs.
The sharp advance extended the winning streak for Indian equities to six consecutive trading days, recovering losses recorded in previous weeks. Comparable single-day percentage advances in both headline indices were last documented on Dalal Street in April. The market breadth was overwhelmingly positive, with broader indices also participating as the Nifty Midcap 100 gained 1.17 per cent and the Nifty Smallcap 100 rose 1.05 per cent.
Macroeconomic Triggers and Currency Strengthening
In foreign exchange markets, the Indian rupee strengthened by 29 paise to close at 94.36 against the US dollar, recovering from Wednesday's finish of 94.65. The retreat in crude prices and softer US bond yields supported domestic currency stability and encouraged fresh foreign institutional allocation.
Market volatility dropped substantially as geopolitical anxiety diminished. The Nifty India Volatility Index slumped 23.5 per cent to settle at 11.62, signaling an abrupt decrease in near-term hedging demand and perceived market risk.
Sectoral Leadership and Stock Performers
Sectoral indices across banking, aviation, and consumer paints led the benchmark advances. Top gainers in the Nifty 50 included Shriram Finance, InterGlobe Aviation, and Asian Paints, which benefited directly from lower fuel and petrochemical input costs.
Background
The market capitalisation of NSE-listed firms stood at ₹497.48 lakh crore at the close of Thursday's trading session on November 5, 2026, adding ₹7.85 lakh crore from the previous session, according to Upstox.
During the US presidential election cycles of 2016, 2020, and 2024, Nifty daily fluctuations ranged from a 1.27% decline to a 1.78% gain, including a 111-point drop on November 9, 2016, a 1.78% increase on November 5, 2020, and a 1.12% rise on November 6, 2024, according to Multibagg AI.