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Sensex, Nifty rally for 7th straight day: 3 reasons behind D-Street's winning streak - CNBC TV18
Sensex, Nifty rally for 7th straight day: 3 reasons behind D-Street's winning streak - Published OnNov 6, 2026 | 15:43 IST - Last Updated OnNov 6, 2026 | 15:43 IST Heavy buying in banking giants and strong second-quarter earnings internals drove benchmark indices to multi-month highs, while select midcaps lagged behind on cautious margin outlooks. Discover which sectors are expected to sustain this momentum in the upcoming week.
Crude crash, US midterm wave send Nifty surging past 24,300
Benchmark indices opened sharply higher on Thursday, with the Nifty 50 jumping 400 points to 24,360.70 and the Sensex surging 1,418.56 points, or 1.84 per cent, to 78,719.96, as a near 10 per cent crash in crude oil prices and a decisive US midterm election outcome fuelled a broad-based rally across sectors.
Reliance jumps 11.6% as Nifty opens above 23,500 on crude slide
Reliance Industries surged 11.6% to ₹1,299, its biggest single-day gain in over six years, adding ₹1.83 trillion in market capitalisation after Q2 earnings and lifting the Sensex more than 1,200 points. The rally was driven by easing crude oil prices, which fell around 7%, and renewed diplomatic talks on Iran, while Motilal Oswal flagged the Jio Platforms listing as a re-rating catalyst for the telecom sector. The Nifty opened at 23,582.25, up 0.64% from its previous close of 23,440.80, and SAMCO Securities data shows RIL has averaged a 55.3% gain over the next year after single-session rallies above 5%.
Reliance Surges Most Since 2020, Lifting Sensex 1,233 Points
The BSE Sensex closed at 75,692.78, up 1,233.25 points or 1.66%, while the Nifty 50 settled at 23,440.80, gaining 387.70 points or 1.68%, as Reliance Industries posted its strongest single-day gain since April 2020. The rally was driven by better-than-expected second-quarter earnings, improving domestic economic indicators, foreign investors turning buyers, and crude oil's retreat from a six-month high. The Nifty Oil & Gas index surged nearly 6% and the Nifty Metal index rose more than 3%, with Tata Steel, JSW Steel and Shriram Finance among the top gainers and the Nifty Smallcap 250 up 1.35%.
Sensex plunges 765 points as bank stocks and FPI selling hammer indices
The Sensex crashed 765 points intraday, with private banks and IT stocks leading the decline while metals bucked the trend. Foreign portfolio investor selling and weakness in bank stocks were cited as key drags on the indices. The market remained under pressure at noon, down 756 points, as selling intensified across financial and technology counters.
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Nifty can hit 29,000 next year on earnings growth, attractive valuations: Compounding Asset CIO - CNBC TV18
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