Indian Markets Rally as Trump's Midterm Defeat Eases Iran War Fears; Sensex Crosses 79,000

Indian stock markets surged after US President Donald Trump's midterm election defeat, with the Sensex crossing 79,000 points for the first time. The market rally was fueled by expectations that US military action against Iran will not occur. US Vice President JD Vance admitted the war with Iran caused the election loss, leading markets to conclude no US strikes on Iran. Crude oil prices and the dollar fell, while Indian equities and gold prices rallied, with the Sensex closing up 2008.61 points at 79,310. The Nifty gained 576 points to close at 24,536.6, and total BSE-listed company market value crossed 500 lakh crore for the first time. Meanwhile, US indices fell, with Nasdaq down 2.79 percent and Dow Jones losing 0.75 percent.