Dalal Street Rallies Ahead Of Diwali: Sensex Soars Nearly 1,400 Points, Nifty Crosses 24,300 As Democrats Stun Trump & Hormuz Tensions Ease

Indian equity markets opened on a sharply bullish note on November 5, 2026, with the benchmark BSE SENSEX surging 1,377.98 points (+1.78%) to trade at 78,679.38 in early morning trade on Thursday.

Sensex Opens Higher, Touches Intraday Peak

After closing at 77,301.40 in the previous session on Wednesday, the index gap-opened higher at 78,910.94 and touched an intraday high of 78,922.44 against a low of 78,520.56.

Sectoral indices mirrored the strong momentum, with the BSE BANKEX up 1.80% (+1,132.53 points to 64,005.04) and the BSE Focused IT gaining 1.63% (+626.87 points to 38,986.60).

Broad-based Rally Lifts Sensex Stocks

Market breadth was overwhelmingly positive, with almost all Sensex constituents trading in the green. Top gainers leading the rally included INDIGO (+4.76%), BAJFINANCE (+4.53%), ASIANPAINT (+4.32%), M&M (+3.35%), MARUTI (+3.28%) and ULTRACEMCO (+2.93%). Heavyweights across banking, IT and capital goods — such as LT (+2.67%), HDFC Bank (+2.60%), ICICI Bank (+2.32%), Infosys (+2.06%) and SBI (+1.90%) — also extended solid support. Out of the entire index heatmap, KOTAKBANK (-0.26%) was the sole outlier trading in negative territory during the opening hour.

Sectoral indices traded largely higher, with financial services, auto, cement and realty stocks leading the gains. Banking, IT, FMCG, metal, media and consumer durables indices also advanced, reflecting broad-based buying. Pharma and healthcare were among the few pockets of weakness, with their indices slipping into the red amid the widespread rally.

Democrats Sweep US Midterm Polls In Major Setback For Trump

On Wednesday, as investors digested a historic Democratic sweep in US midterm elections, markets rallied in America. Both Wall Street and Dalal Street have registered a good boost following the US midterm election outcome as there is a hope of a faster resolution to the West Asia conflict and easing concerns around energy supply disruptions.

The Democratic Party stormed to victory in the US midterm elections, taking control of the Senate and the House of Representatives in a sharp rebuke to President Donald Trump. The electoral rout, widely seen as a referendum on the president, will now put checks on the total domination of President Trump which often led to an era of uncertainty in global geopolitics and economy.

Meanwhile, the rupee strengthened 29 paise to 94.36 against the US dollar, compared to Wednesday’s close of 94.65 a dollar.

Iran Eases Strait Of Hormuz Restrictions

In a major boost to India’s energy security, Iran exempted merchant vessels from India, China, Iraq and Qatar from restrictions on using the Strait of Hormuz. Amir Hayat-Moghaddam, deputy chairman of the Iranian parliament’s national security and foreign policy committee, said ships from these four countries can “pass freely” through the strategic waterway and the US, too, is not stopping them either. The measure is aimed at facilitating the procurement of medicines from India, influential Iranian lawmaker Hayat-Moghaddam said.