Diwali boom: Markets log longest winning streak in 3 years, Nifty ends above 25,000
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Mumbai, Nov 6 : Indian equity benchmarks extended their winning streak to seven straight trading sessions on Friday, marking the first such run in three years, as heavy buying in banking heavyweights and select earnings-driven stocks lifted market sentiment.
The Sensex jumped 1,718.01 points, or 2.17 per cent, to close at 81,028.02, while the Nifty advanced 493.75 points, or 2.01 per cent, to settle at 25,030.35.
The rally helped the Nifty reclaim the psychologically important 25,000 level for the first time since February 27, 2026, while also recording its strongest closing level in nine months.
Commenting on Nifty technical outlook, experts said that the index is now approaching an immediate resistance zone of 25,150–25,200.
"A decisive and sustained move above this range could reinforce the bullish momentum and open the door for further upside," analysts stated.
"On the downside, 24,800 is expected to provide immediate support. The index’s ability to sustain above this level will be crucial in maintaining the current upward trajectory, while a decisive breach could trigger near-term profit-booking," market watchers noted.
Market participants attributed the gains to continued strength in banking and financial services stocks and the ongoing unwinding of the global artificial intelligence trade, which has prompted investors to rotate into other sectors.
Among the Nifty constituents, Mahindra & Mahindra, ICICI Bank and HDFC Life Insurance Company emerged as the top gainers, supporting the benchmark's sharp advance.
The latest gains also extended a broader market recovery that began amid easing concerns around the West Asia conflict and improving sentiment following corporate earnings announcements.
However, the broader market underperformed the benchmarks. The Nifty MidCap 100 index ended marginally lower by 0.02 per cent, while the Nifty SmallCap 100 declined 0.82 per cent.
On the sectoral front, the Nifty Private Bank index outperformed its peers as investors accumulated financial stocks, while the Nifty Media index ended as the worst-performing sector during the session.
The Sensex jumped 1,718.01 points, or 2.17 per cent, to close at 81,028.02, while the Nifty advanced 493.75 points, or 2.01 per cent, to settle at 25,030.35.
The rally helped the Nifty reclaim the psychologically important 25,000 level for the first time since February 27, 2026, while also recording its strongest closing level in nine months.
Commenting on Nifty technical outlook, experts said that the index is now approaching an immediate resistance zone of 25,150–25,200.
"A decisive and sustained move above this range could reinforce the bullish momentum and open the door for further upside," analysts stated.
"On the downside, 24,800 is expected to provide immediate support. The index’s ability to sustain above this level will be crucial in maintaining the current upward trajectory, while a decisive breach could trigger near-term profit-booking," market watchers noted.
Market participants attributed the gains to continued strength in banking and financial services stocks and the ongoing unwinding of the global artificial intelligence trade, which has prompted investors to rotate into other sectors.
Among the Nifty constituents, Mahindra & Mahindra, ICICI Bank and HDFC Life Insurance Company emerged as the top gainers, supporting the benchmark's sharp advance.
The latest gains also extended a broader market recovery that began amid easing concerns around the West Asia conflict and improving sentiment following corporate earnings announcements.
However, the broader market underperformed the benchmarks. The Nifty MidCap 100 index ended marginally lower by 0.02 per cent, while the Nifty SmallCap 100 declined 0.82 per cent.
On the sectoral front, the Nifty Private Bank index outperformed its peers as investors accumulated financial stocks, while the Nifty Media index ended as the worst-performing sector during the session.
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Note: The content of this article is sourced from a news agency and has not been edited by the ap7am team.