Sensex and Nifty extend rally after US midterm results
In short
Indian stocks kept rising for a seventh straight session and were up about 9%. Mint Markets said the Sensex rose 0.9% and the Nifty added 0.7% on Friday, helped by better mood after the US midterm elections, lower crude prices and fresh foreign buying.
This matters for investors because the rally added to market wealth even with a global technology sell-off in the background.
What the reporting says
Indian equities extended their rally for a seventh session, gaining about 9%, after US midterm election results, falling crude prices and renewed foreign investor buying lifted sentiment. Mint Markets said the Sensex rose 0.9% and the Nifty gained 0.7% on Friday. The move came despite a global technology sell-off, adding to market wealth over two days.
Why it matters
Mint Markets said Indian equities extended their rally to a seventh session, rising about 9% in total, with the Sensex up 0.9% and the Nifty up 0.7% on Friday. The stated drivers were improved sentiment after the US midterm elections, falling crude prices and renewed foreign investor buying, which outweighed a global technology sell-off. The move was positive for Indian equity markets.