The bulls took total control of Dalal Street on Thursday. The NSE Nifty 50 surged 576 points, or 2.4%, to finish at 24,536, marking its sharpest single-day percentage leap since April 8, 2026. Trade opened with an explosive gap-up of more than 400 points, and institutional buyers never let off the gas. The index has now advanced over 8% across six consecutive sessions—its most ferocious multi-day sprint since February 8, 2021—reclaiming its highest close in nearly three months.
Credit and auto heavyweights powered the assault. Bajaj Finance, Shriram Finance, and Mahindra & Mahindra led the charge, while state-run energy and utility names stumbled, leaving ONGC, NTPC, and Apollo Hospitals parked in the red. Except for Nifty Media and Nifty Chemicals, every sectoral index advanced. The Nifty Midcap 100 jumped 1.90%, while the Nifty Smallcap 100 added 0.56%. Meanwhile, the Indian rupee gained 17 paise to 94.47 against the US dollar, its strongest finish since June 30, 2026.
Cheap oil blew open the trade. Brent crude plunged nearly 16% this week to around $94 per barrel, drastically reducing projected import bills and blunting inflation anxiety tied to West Asia supply bottlenecks. At the same time, the yield on the benchmark 10-year US Treasury eased to 4.85% following the US midterm elections, dampening dollar strength and channeling capital back toward emerging markets. Indian equities have widened their lead over regional competitors: Nifty has climbed 8.5% so far in Q3FY27, compared with a 7.6% drop for the MSCI Asia Pacific index.
| Asset / Index | Closing Level / Price | Daily Change | Key Context |
| :--- | :--- | :--- | :--- |
|---|---|---|---|
| Nifty 50 | 24,536.00 | +2.40% (+576 pts) | Sharpest daily jump since April 8, 2026 |
| Nifty Midcap 100 | — | +1.90% | Broad market participation |
| Nifty Smallcap 100 | — | +0.56% | Gains lagged frontline indices |
| USD/INR | 94.47 | -17 paise (INR up) | Strongest level since June 30, 2026 |
| Brent Crude Oil | ~$94.00 / bbl | -16% (Week) |
The charts flipped decisively green. Nandish Shah of HDFC Securities pointed out that Nifty took back its 200-day simple moving average at 23,997 for the first time since February 26, 2026, establishing immediate resistance at 24,773 and 24,990, with baseline support moving up to 24,300. SBI Securities analyst Sudeep Shah identified the 24,430–24,400 band as the primary launchpad for a run toward 24,650–24,680. LKP Securities analyst Vatsal Bhuva advised buying on dips, tracking strong positional floor support at 24,000 and overhead supply caps at 24,800 and 25,000.
Earnings delivery will dictate the next leg. With second-quarter corporate results tracking ahead of street projections, trading desks are shifting their attention to upcoming balance sheets from Hindalco, Bosch, Siemens, Aster DM Healthcare, Gland Pharma, Voltas, Jubilant FoodWorks, and Data Patterns.
| Relieves domestic import bill |
| US 10-Yr Treasury | 4.85% | Eased | Softening US dollar index |