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Stock Market Update: How Nifty50, Sensex Surge Amid Positive Global Trends
Stock Market Update: How Nifty50, Sensex Surge Amid Positive Global Trends

The domestic stock market displayed remarkable gains on Thursday, November 2, as both the Nifty 50 and the Sensex capitalized on favorable global signals. This boost in investor confidence was driven by the US Federal Reserve's decision to maintain its current interest rates, reinforcing the belief that the central bank has concluded its rate hike cycle.

Last night, the Federal Reserve retained its policy rate within the 5.25-5.50% range. While Chair Jerome Powell did not entirely rule out the possibility of another rate increase, market analysts perceived his stance to be less hawkish than expected.

The 30-share BSE Sensex soared by 489.57 points, equivalent to a 0.77% increase, closing at 64,080.90. During the trading session, it surged as high as 611.31 points, reaching 64,202.64.

The Nifty also posted a notable gain of 144.10 points, or 0.76%, closing at 19,133.25.

Among the Sensex-listed companies, IndusInd Bank, Tata Steel, Tata Motors, Sun Pharma, Infosys, Mahindra & Mahindra, NTPC, Bharti Airtel, HCL Technologies, and Axis Bank were the leading gainers. Tech Mahindra and Bajaj Finance, on the other hand, lagged behind.

In the Asian markets, Seoul, Tokyo, and Hong Kong concluded on a positive note, while Shanghai reported a decrease. European markets were trading in the green, and the US markets registered gains on Wednesday.

The global oil benchmark, Brent crude, experienced a substantial increase of 1.67%, reaching $86.12 per barrel.

Foreign institutional investors (FIIs) divested equities worth ₹1,816.91 crore on Wednesday, according to exchange data.

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