Dalal Street Celebrates Ahead Of Diwali: Sensex Jumps 2,000 Points Amid US Election Optimism

Dalal Street Celebrates Ahead Of Diwali. (AI Generated Image)

Stock Markets on Thursday witnessed a massive pre-Diwali rally with Sensex surging over 2,000 points as investors cheered a favourable global market environment and optimism surrounding the US midterm election results. The sharp rally lifted investor sentiment, with buying interest visible across sectors as domestic equities joined the broader global market upswing.

At close, Sensex was up by 2008.61 points or 2.60% at 79,310.01 while Nifty closed at 24,536.60, up by 576.00 points or 2.40%.

The rally brought an early Diwali cheer for investors, adding to expectations of a stronger finish for the Indian stock market ahead of the festive season.

Crude oil staged a recovery after an early selloff, with Brent rebounding from $93.4 a barrel to near $96 and WTI recovering to $88.5 after briefly testing $86.6.

Kaynat Chainwala, AVP Commodity Research, Kotak Neo said, "The bounce likely reflects bargain hunting following a near 20% correction from last week's intraday highs, while also suggesting the market may have moved too quickly in pricing a diplomatic resolution, particularly as regional supply and shipping risks have yet to fully dissipate."

Vinod Nair, Head of Research, Geojit Investments Limited said, "The U.S.

Original source: https://www.timesnownews.com/business-economy