Indian stock market investors experienced a festive Diwali-afterglow on Wednesday as benchmark indices roared back following a one-day holiday break, generating a powerful rally that added over Rs 6 lakh crore to the combined market valuation of BSE-listed companies within the first hour of trading. Data from the opening bell showed that the total market capitalization of all BSE-listed firms stood at Rs 5,06,41,936 crore, which quickly climbed to Rs 5,12,45,010 crore by 10 AM, translating to an astonishing gain of Rs 6,03,074 crore in just 45 minutes of market activity as the Sensex surged by more than 1,300 points and the Nifty 50 climbed over 1 per cent. This remarkable upswing was heavily fueled by a sharp correction in global crude oil prices, where Brent crude retreated from above $100 per barrel to briefly dip below $90 before recovering toward $92, offering immense relief to India’s import-heavy economy by easing inflation risks, pressure on the rupee, and manufacturing costs. Furthermore, the market momentum was significantly bolstered by the return of foreign portfolio investors (FPIs) who had previously exerted heavy selling pressure, combined with resilient corporate earnings that reassured investors despite ongoing geopolitical concerns, cementing a strong continuation of November’s impressive nearly 9 per cent monthly rally.
Market Sparkle: Sensex and Nifty Rally Generates Rs 6 Lakh Crore for Investors in 60 Minutes
