Sensex and Nifty Surge as Indian Shares Open Higher

Indian equities opened sharply higher on November 5, with the BSE Sensex and NSE Nifty 50 rising more than 1,600 and 400 points, respectively, as investors responded to lower crude prices, gains on Wall Street and renewed foreign buying. The early rally extended a run of gains in the benchmarks, though the reported figures describe opening and intraday trading, not the session’s close. The Sensex opened at 78,910.94, up 1,609.54 points, while the Nifty 50 began at 24,378.05, up 417.45 points. A separate live market reading at 9:46 a.m. IST put the Sensex at 78,812.21, up 1,510.81 points, and the Nifty at 24,344.10, up 423.20 points. These figures capture different points in the morning’s trading. Provisional data showed foreign institutional investors bought Indian equities worth ₹7,284 crore on November 4, their fourth consecutive session of purchases. Domestic institutional investors were net sellers of ₹3,712 crore that day, also marking a fourth straight session of selling, according to one market report. The rally followed a sharp fall in oil prices. Brent crude dropped below $100 a barrel on Wednesday, with reports putting it near $94 during the period. Lower oil prices...