NIFTY50 gains 7.6%, SENSEX up 5,755 points after sixth consecutive days of rally; will NIFTY be able to hit 25,000?

Indian equity market indices have witnessed a stellar rally in the last six consecutive trading sessions as of Thursday, November 5, 2026, with investors navigating sharp volatility trends, evolving geopolitical dynamics, a major pullback in crude oil prices, and massive FII interest buying support in domestic equities.

In the last six days, healthy Q2 earnings performance from major corporates combined with strong primary market (IPO) listings like that of Jio Platforms, and the US midterm elections turning out in favour of the Democrats, were among several key factors powering the momentum for the stocks.

Data collected from the NSE website showed that the NIFTY50 index has rallied 7.6% or 1,743.35 points in the last six consecutive trading sessions to hit a one-month high of 24,442.20 on November 5, in comparison to 22,698.85 points on October 28's close.

The benchmark BSE SENSEX index also gained 7.8% or 5,755.16 points in the last six trading sessions to hit a one-month high level of 79,001.19 points, from 73,246.03 level as of the stock market close on October 28.

Blue-chip stocks like InterGlobe Aviation (IndiGo), Shriram Finance, Bajaj Finance, Reliance Industries, Jio Financial, and HDFC Bank were among the top gainers.

The mega intraday rally came during Thursday’s market, with the benchmark indices rising to the tune of 2% as investors focused on an 11% correction in global crude oil prices amid improving sentiment for the near-term end of the West Asia conflict.

After the stellar market rally, investors are likely questioning the factor that whether or not there is further upside potential left for equities amid a rapidly evolving geopolitical situation in West Asia.

Market experts predict that Nifty is set to witness ‘limited’ near-term gains due to the pullback in US Treasury yields and lower current crude oil prices. However, the cost overhang remains for an import-heavy country like India, with sentiment linked to elevated prices in the global markets.

Will Nifty be able to hit 25,000?

Analysts from US-based investment firm Bernstein retained their Nifty target of 25,000 points, as the Democratic Party taking charge of the US Congress has limited but near-term gain potential for Indian markets, as it further impacts spending in AI and tech, pulling investors away towards lower-risk bets while pressuring down Treasury yields due to rising prices.

“Falling US yields historically supported FII inflows into Indian equities. Every 10 basis point (bps) decline in US yields historically attracted $950 million in FII inflows,” said Bernstein analysts.

With the winding down of the AI trade in the last six days, foreign investors are steering clear of AI and tech stocks in developed markets of Wall Street and Asia, while shifting their investments to lower-risk bets amongst Indian equities.

“India could benefit from lower AI exposure and reduced global technology volatility,” said analysts from Bank of America. “India's limited participation in the AI rally could cushion a global technology correction.”

Bernstein experts also said that the lower Treasury yields could strengthen the Indian rupee and improve foreign investor sentiment in domestic equities.

Analysts from investment major JPMorgan also said that they are bullish on Indian equities, as foreign investors reversing their India underweight can unlock $115 billion of inflows in the country.

“A stable Brent price, continued FII buying and broader participation could help the gap hold; renewed geopolitical uncertainty or failure to defend 24,000 may invite consolidation after the initial surge,” said Hariselvan Radhakrishnan, Founder & CEO of HST Wealth, a SEBI-registered Research Analyst firm.

In line with the concerns, experts unanimously flagged that West Asia tensions and elevated crude prices in the global market remain major risks for India.

What’s the long-term outlook on Indian equities?

While Indian equities remained somewhat shielded from the AI play in the global market, the longer-term outlook for the same will depend on energy costs and earnings growth of corporates.

“Long-term market performance hinges on crude prices, external balances and earnings growth,” said Bernstein analysts.

Focusing on the long-term growth, investors also need to track the immediate impact of sentiment on FII flows, crude prices, currency movements, and corporate earnings to determine the near-term direction of the market.

“We expect small and mid caps to outperform large caps on earnings growth,” said JPMorgan analysts, citing that lower crude could support the Indian rupee, in turn easing inflation and improving corporate margins in the upcoming period.