Markets surge on sharp decline in oil prices, hopes of resolution to U.S.-Iran conflict

Market benchmark indices Sensex and Nifty surged in early trade on Thursday (November 5, 2026) amid a sharp decline in crude oil prices and hopes that a resolution to the West Asia conflict may happen soon after the results of the midterm elections where American voters gave the Opposition Democratic Party control of the U.S. Congress. Oil prices hit two-month low after U.S. Democratic win storyline 1 Democrats win U.S.

Congress in midterm rout of U.S. President Donald Trump storyline 1 Sustained foreign fund inflows and a sharp rally in the U.S. markets also added to markets’ optimism during the initial trading. U.S.

midterm elections 2026 LIVE updates https://www.thehindu.com/news/international/us-midterm-elections-2026-results-trump-senate-congress-races-winners-losers-live-updates-republicans-democrats/article71668404.ece The 30-share BSE Sensex jumped 1,403.71 points to 78,689.87 in early trade. The 50-share NSE Nifty surged 378.85 points to 24,340.40.