According to the Times of India, Mumbai equities recorded a steep advance, with the Sensex climbing by more than 1,600 points and the Nifty50 posting a gain of 2 percent. The Times of India reported that the overall value held by investors increased by Rs 6.9 lakh crore during the session. The report attributed the strength to cheaper crude oil, which eased cost pressures, alongside renewed purchases by overseas funds returning to Indian equities. Sentiment also received a lift internationally after the US midterm election outcome, the Times of India noted. Gains were not confined to the headline gauges, as wider market measures and shares of banks also moved higher, pointing to broad-based confidence among participants.
Source: Times of India.