Indian markets rise for fifth day; Sensex, Nifty gain on broad buying

Indian stock markets closed higher on Wednesday, extending their winning streak to a fifth consecutive session, with the BSE Sensex gaining 383.55 points to 77,301.40 and the Nifty 50 rising 149.70 points to 23,960.60. Broad-based buying across sectors drove the gains, with midcap and smallcap stocks outperforming benchmarks. Media, realty, metal and consumer durables saw strong demand, while IT stocks lagged. Easing crude oil prices, domestic institutional support and expectations of improved corporate earnings boosted sentiment. The rally followed initial risk aversion from the US midterm verdict, but markets are adjusting to potential political gridlock in Washington. Asian markets were mixed, with Japan's Nikkei falling 1.9% while China's Shanghai Composite rose 2.12%. Analysts warn of possible profit-booking and near-term consolidation ahead.