Sensex soars 770 points, Nifty inching towards 26,000; what’s driving today’s rally?

The Indian equity indices leaped in today’s session after seeing a subdued start to the week. The Sensex jumped by 700 points or 0.92%, at 84,642.15, whereas the Nifty 50 was moving towards the 26,000-mark, trading at 25,927.75, rising by 233 points or 0.95%.

The rally can be attributed to the exit polls in Bihar, which projected a decisive majority for the National Democratic Alliance (NDA), ahead of the Assembly election results on November 14. Adding fuel to the positive session was US President Donald Trump’s comment made at a meeting with the media, regarding the tariffs on India.

“"Well, right now, the tariffs are very high on India because of the Russian oil, and they've stopped doing the Russian oil. It's been reduced very substantially. Yeah, we're going to be bringing the tariffs down,” Trump said.

On the global front, positive cues were tracked by the US and Asian markets as the US Congress would finally end the 43-day shutdown after the House of Representatives have voted on the bill approved by the Senate on Thursday.

At the time of reporting, shares of Adani Enterprises, Tech Mahindra and TCS were the top gainers on the NSE Nifty50. Adani Enterprises announced a ₹25,000 crore rights issue to strengthen its capital base. The issue price has been set at ₹1,800 per share, including a premium of ₹1,799, representing a 24% discount to the current market price. The record date for determining eligible shareholders is Monday, November 17, 2025. Cheering the news, the shares soared by 4.63%, to trade at Rs 2,476.40.

Tech Mahindra and TCS, along with other IT stocks that make up the Nifty IT index were all trading in the green, as Trump seems to soften his stance on the H1B visas. Trump, in conversation with Fox News said that while he supports employment for American workers, US must also import foreign talent.

Leading the top laggard list are Tata companies. Tata Motors Limited, which was listed in the morning today at a 27%, has now declined by 3.33%, and Tata Motors Passenger Vehicle is down by 0.94%. Tata Steel, which will announce its Q2 results today, also traded in the red, down by 1.13%.

Reflecting the upbeat sentiment, the broader markets too were all posting gains, with the Nifty Midcap 150 and Nifty Smallcap 100 rising around 0.85% each. Even amongst sectoral indices, broad based buying was recorded, But Nifty IT, Nifty Auto and Nifty Oil and Gas were the top picks by investors today, although Nifty FMCG and Nifty Metal were flat in comparison to its peers.