Sensex, Nifty surge for third day ahead of Diwali
Indian stock markets witnessed a strong start to Diwali week with benchmark indices Sensex and Nifty extending gains for a third consecutive day, driven by...
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The Cliff News | 2 November 2026
Dalal Street is buzzing with festive cheer as both benchmark indices, the Sensex and Nifty, concluded Monday’s trading session with significant gains, marking the third consecutive day of upward momentum. This upbeat start to Diwali week signals strong investor sentiment as the markets embrace the celebratory period.
The BSE barometer Sensex surged by 1,030 points, or 1.38 per cent, reaching an intraday high of 75,489.70. This follows a substantial rally of over 1,200 points in the preceding two trading sessions. Mirroring this ascent, its NSE counterpart, the Nifty 50, climbed by 278 points, or 1.20 per cent, to touch 23,330.70.
Broader Markets Join the Rally
The broader market segments also participated actively in the day's gains, breaking away from previous sessions where they had lagged. The Nifty Midcap 100 and Nifty Smallcap 100 indices both registered healthy increases, gaining between 0.85 per cent and 0.95 per cent, indicating widespread optimism across market capitalizations.
Sectoral Performance
Sectoral performance was largely positive, with most indices trading in the green. The Nifty Metal sector led the pack, posting a gain of 1.5 per cent. Other notable gainers included the FMCG, PSU bank, and Realty sectors, each rising by over 1 per cent. The only exception was the Nifty Pharma index, which traded lower.
Market Strategist's View
V K Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, commented on the market’s performance, highlighting clear indications of a turnaround. He attributed this resurgence to a confluence of positive external and domestic factors. "Externally, the slight cooling of Brent crude prices from last week’s high of $118 to $110 now is a relief. Equally important is the decline in the US 10-year bond yield to 4.93 per cent," Vijayakumar stated.
He further elaborated on the significance of global trends for the Indian market. "But, perhaps, more important than these external tailwinds, is the sharp weakening of the AI trade which pulled down the Nasdaq by 2.8 per cent last Friday. The weakening trend in AI trade is beneficial for India, which is widely regarded as a counter AI play," he added, underscoring India's strategic positioning in the global investment landscape.