<p>Indian equity markets on Tuesday, November 3, opened higher for the second consecutive day this week amid declining crude prices, strong Q2 earnings, and foreign investors turning buyers.&nbsp;</p>
<p>As per IANS, <a href="https://www.mid-day.com/business/business-news/article/stock-market-update-sensex-rises-over-150-points-nifty-crosses-22-730-as-markets-open-flat-23657535" rel="nofollow">Sensex </a>jumped as much as 0.87 per cent, or over 600 points, to hit an intraday high of 76,358.79 in early deals.</p>
<p>Nifty traded at 23,610.70, an increase of 0.72 per cent or about 170 points.</p>
<p>On the sectoral front, financial services led the gains as Nifty Financial Services ex-Bank jumped 1 per cent.</p>
<h2>Nifty media up by 0.77 per cent</h2>
<p>Meanwhile, Nifty Chemicals, Nifty FMCG, and Nifty Media surged up to 0.77 per cent. Private bank, cement, information technology (IT) and consumer durables indices were also trading in the green.</p>
<h2>FIIs recorded net purchases of Rs 3,114 crore</h2>
<p>On Monday, FIIs continued their buying momentum for the second consecutive session, recording net equity purchases of Rs 3,114 crore.<a href="https://www.mid-day.com/business/stock-market/article/sensex-nifty-snap-four-session-losing-streak-sensex-gains-48292-points-23657072" rel="nofollow"> Domestic institutional investors (DIIs) </a>remained net sellers for the second straight session with outflows of Rs 392 crore, as per IANS.&nbsp;</p>
<h2>Expert opinion</h2>
<p>Analysts said that circumstances are ideal for the continuation of the ongoing market rally.&nbsp;</p>
<p>&ldquo;Decline in Brent crude to USD 104, further weakening of the AI trade, continuing flow of good Q2 results, and foreign institutional investors (FIIs) turning buyers have the potential to accelerate the ongoing rally," they said.</p>
<p>Experts further added that Nifty has reclaimed its 50-day EMA near 23,170, while RSI improved to 61.03, above its average of 47.90, indicating strengthening momentum. PCR at 1.28 also reflects a positive derivatives setup. Immediate support is placed at 23,200-23,300, while resistance is seen at 23,600-23,700.</p>
<p>They also noted, "Massive value buying along with big short covering leads to such sharp surges in stocks, even in megacaps. The takeaway from this experience is that patient value buying will be rewarded," as per IANS.&nbsp;</p>
<p>Moreover, the results of the <a href="https://www.mid-day.com/news/world-news/article/trump-urges-new-york-voters-to-back-three-republican-candidates-ahead-of-midterm-elections-23658232" rel="nofollow">US mid-term elections</a> are due tomorrow, and their impact on geopolitical dynamics will be keenly watched by the market in the coming days.</p>
<p><strong>(With inputs from IANS)</strong></p>

Stock market today: Sensex jumps over 600 points and Nifty crosses 23,600 as falling crude prices, strong Q2 earnings and foreign investor buying lift market

Stock market update: Sensex, Nifty open higher for second consecutive day amid falling crude prices

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Indian stock markets opened higher on Tuesday, with Sensex surging over 600 points and Nifty climbing above 23,600. Falling crude prices, strong Q2 earnings and foreign investor buying boosted sentiment, while financial services, media, FMCG and chemical stocks led sectoral gains

Sensex jumps over 600 points, Nifty crosses 23,600 in early trade

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