Mumbai: Indian equity markets ended Thursday, November 5, with their strongest close in weeks, as the BSE Sensex surged 2,008.61 points, or 2.60 per cent, to settle at 79,310.01 and the NSE Nifty 50 jumped 576 points, or 2.40 per cent, to close at 24,536.60, according to PTI. Both indices extended their winning streak to a sixth consecutive trading session.

Source: PTI via Dailyworld

79,310.01Sensex close (+2,008.61 pts)
24,536.60Nifty 50 close (+576 pts)
6Consecutive winning sessions
94.47Rupee close vs US dollar (flat, -1 paisa)

The closing numbers confirmed and extended the sharp opening surge in Indian markets reported earlier on Thursday. Market reports attributed the rally to a sharp decline in crude oil prices, sustained foreign institutional investor (FII) buying and positive global cues following the US midterm election results.

Source: DSIJ Closing Bell

Brent crude futures fell around 1 per cent to about USD 93.50 per barrel in early trade on Thursday, after an 8.7 per cent decline in the previous session — a fall that eases India's oil import bill and inflation pressure, and which traders said underpinned buying across sectors.

In the currency market, the rupee settled flat, down 1 paisa at 94.47 (provisional) against the US dollar, PTI reported.

What happens next: traders will watch whether crude stays below the mid-USD 90s and whether foreign buying continues into Friday's session; a hold above these closing levels would keep the six-session momentum intact.