Indian equity benchmarks opened sharply higher on Wednesday, 11 November, when trading resumed after Tuesday's Diwali Balipratipada holiday. The figures below are opening-session levels recorded by about 10 am IST, not closing numbers. A final close for the day was not available when this report was compiled.
The Sensex was up 1,106 points at 82,212. The Nifty 50 gained 276 points to 25,324, crossing the 25,300 mark. The market capitalisation of BSE-listed companies rose to Rs 511.21 lakh crore. The rally was broad: every Sensex constituent was trading higher at the time of the snapshot.
Who led
Banks led the sectors. The BSE Bankex rose 1,294 points to 68,528. The BSE Auto index added 1,041 points and BSE Capital Goods 1,029 points. Among the top gainers, up as much as 5 per cent, were InterGlobe Aviation (IndiGo), Mahindra and Mahindra, State Bank of India, Axis Bank, Eternal and Asian Paints.
What is behind it
Several factors lined up. Asian markets were rallying, with Japan's Nikkei up 1.27 per cent at 61,230, Taiwan's benchmark up 2.54 per cent at 43,815 and South Korea's Kospi up 2.27 per cent at 5,350. Brent crude was trading near 92.45 dollars a barrel after slipping below 90 dollars on Tuesday for the first time since August, helped by easing tensions between the United States and Iran. Foreign portfolio investors have also been buying heavily: they put Rs 53,739 crore into Indian equities in November so far, the biggest monthly inflow since September 2024, when the figure was Rs 57,724 crore.
The last full session was Monday, 9 November, when the Sensex rose 107.25 points, or 0.13 per cent, to 81,106.65, and the Nifty 50 gained 58.25 points, or 0.23 per cent, to 25,044.65. Figures for domestic institutional flows and for the rupee were not part of the information available for this report.
The outlook
Anand James, chief market strategist at a brokerage, said the market is keeping a trajectory between 25,400 and 25,700 intact. He raised his downside marker to 24,926 and put the near-term upside at 25,327, adding that mean-reversion dips are more likely than a straight run higher. His comments are one analyst's view, not a forecast. Investors are also watching upcoming inflation readings from India and the United States, crude oil and global risk appetite. Nothing in this report is investment advice.
