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Business

Diwali dhamaka on D-Street: Investors richer by Rs 29L cr

hellohimachalse@gmail.com 07 Nov 2026 1 day ago

Hyderabad: While Wall Street and Asian stock markets bled, Dalal Street partied. The Sensex jumped 1,718 points and the Nifty reclaimed 25,000 on Friday, notching a seventh straight winning session, the longest streak in a year. The most striking feature is the jump in total valuation from Rs474.37 lakh crore to Rs503.07 lakh crore, an increase of approximately Rs28.70 lakh crore, or 6.05 per cent.

Over the last seven sessions, the Sensex has gained 7,781.99 points, or 10.62 per cent, while the Nifty has climbed 2,331.5 points, or 10.27 per cent. For the week, the Sensex soared 8.82 per cent and the Nifty 8.57 per cent. The Nifty’s close was also its highest since February 2, 2026, when it ended at 25,088.40.

Sustained foreign fund inflows, easing crude prices and healthy second-quarter earnings powered the rally, with Brent crude slipping 1.50 per cent to $96.82 per barrel. FIIs bought equities worth Rs 14,974.68 crore on Thursday alone. Banking and financial stocks led the charge, with the Private Banks index jumping 2.99 per cent, while Mahindra & Mahindra surged 6.15 per cent after reporting a 25 per cent rise in second-quarter consolidated profit to Rs 4,587.88 crore.

The benchmark Nifty hit a nine-month high amid broad-based buying across sectors. It previously closed at 25,088.40 on February 2, 2026. Among the 30 Sensex firms, Mahindra & Mahindra climbed 6.15 per cent on Friday after the automaker on Thursday reported a 25 per cent rise in consolidated profit after tax (PAT) for the second quarter ended September to Rs 4,587.88 crore, backed by strong revenue growth, particularly for the auto segment. 

Headwinds emanated from the West Asia conflict-linked commodity price pressures. ICICI Bank, HDFC Bank, Titan, Axis Bank and Kotak Mahindra Bank were also among the winners. Power Grid was the only laggard from the blue-chip pack.

“Indian equity markets ended sharply higher on Friday, extending their winning streak to seven consecutive sessions and demonstrating considerable resilience despite the sharp sell-off in global technology stocks. In a notable departure from the weakness across Wall Street and other Asian markets, domestic equities largely shrugged off concerns over the unwinding of AI-related trades,” Ponmudi R, CEO of Enrich Money, an online trading and wealth tech firm, said. 

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