Stock Market Witnesses Sharp Rally, Sensex Surges 1,500 Points; Nifty Tops 24,000

As we are all celebrating the festive season of Diwali, the Indian stock markets experienced a spectacular rally, with both the Sensex and Nifty witnessing a massive jump. During morning trade on Thursday, at 78,764, the BSE Sensex increased by 1,463 points or 1.89 percent.

Conversely, the Nifty 50 increased by 1.74 percent or 415.75 points to reach 24,376.35. Falling crude oil prices and increased foreign investor buying improved the market mood, as per the reports.

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Brent Crude Prices:

Brent Crude prices plummeted to 94 USD per barrel at the time of reporting, far below 100 USD per barrel. The decline gave relief to an economy like India that relies on imported oil and boosted confidence in local stocks.

Asian Stock Markets and Others:

Japan’s Nikkei 225 dropped 0.2 percent after gaining earlier in the day. The KOSPI index in South Korea decreased by 2.95 percent. In the meantime, New Zealand’s NZX 50 and Australia’s ASX 200 surged by 1.94 percent and 1.99 percent respectively. The Nasdaq Composite and S&P 500 both increased by 1.44 percent and 1.58 percent, respectively.

(Disclaimer: Given the input is on an information basis, please seek professional advice.)