Sensex Surges 850 Points Past 80,000, Nifty Near 24,750 as Indian Stocks Extend Rally

Indian stock markets rose for a seventh consecutive session on Friday, with the Sensex surging over 846 points to cross the 80,000 mark and the Nifty nearing 24,750, despite a global technology-led sell-off. The rally was driven by buying in heavyweight banking, automobile, pharmaceutical, and consumer stocks, with Mahindra & Mahindra, ICICI Bank, and Titan among the top gainers. Foreign institutional investors purchased Indian equities worth Rs 14,975 crore on November 5, their biggest single-day net buying in over a year, while domestic institutions sold shares. Broader markets underperformed, with midcap and smallcap indices declining, and the India VIX volatility gauge jumped over 9%. The gains contrast with sharp global losses, including a 5.52% plunge in the Nasdaq, as Indian markets benefit from limited exposure to the AI hardware trade, though rising crude oil prices near $100 per barrel remain a risk.