Stock market extended its winning streak for the fifth consecutive session on Wednesday, with the Sensex climbing nearly 384 points to close above the 77,000 mark. Buying in blue-chip financial, FMCG and automobile stocks, continued foreign fund inflows and easing crude oil prices supported the rally.
The BSE Sensex gained 384 points to settle at 77,301, its highest closing level in more than two months. During the session, the index had surged as much as 478 points to touch 77,396. The five-session rally has added more than 4,000 points, or 5%, to the benchmark. The NSE Nifty also advanced 150 points to close at 23,961.
Among Sensex constituents, Bharat Electronics, Titan, InterGlobe Aviation, Bajaj Finance, ITC and Adani Ports emerged as the biggest gainers. On the other hand, Tata Consultancy Services, HCL Tech, Infosys and Eternal were among the laggards.
Foreign institutional investors purchased equities worth Rs 6,837 crore on Tuesday, according to exchange data. Brent crude, meanwhile, declined 0.7% to $102.8 per barrel.
Market participants also pointed to improving global sentiment following the US midterm election outcome, which raised expectations of a more measured approach to trade and tariff policies and potentially stronger foreign fund flows into emerging markets. Mid- and small-cap stocks also extended their outperformance amid improving risk appetite.