Indian Markets Rally Fifth Day; Sensex Up 384 Points, Nifty Near 24,000

Indian equity markets extended their winning streak to a fifth consecutive session on Wednesday, with the Sensex jumping 383.55 points to close at 77,301.40 and the Nifty advancing 149.75 points to 23,960.60, recovering sharply from intraday lows. The rally was driven by broad-based buying in metal, realty, media, and consumer durables stocks, while IT shares declined. The US midterm outcome improved global sentiment, raising expectations of a more measured approach to trade policies and potentially supporting foreign fund inflows. Broader markets outperformed, with the Nifty Smallcap 100 surging 2% and Nifty Midcap 100 gaining 1.55%. India VIX fell 2.89% to 15.27, indicating reduced volatility, while experts cited optimism over possible tax relief and resilient festive consumption as supporting factors.