The Indian stock market staged a sharp rally on Thursday, November 5, with Sensex jumping as much as 2.7% to an intraday high of 79,465.03 and Nifty50 reaching the session's high of 24,579.90, gaining 2.5%. According to latest market data, 15 stocks from the BSE 500 Index touched fresh 52-week highs, with the broader market momentum supported by the Sensex rallying 2 per cent as oil prices slumped and Democrats' win in the US midterm election raising bets on a faster end to the West-Asia conflict. The optimism was further reinforced by broadly strong earnings from Indian companies, adding to the momentum behind the market's spectacular surge.
Nine midcap stocks hit their 52-week high levels, with notable performers including Glenmark Pharma at ₹2,542.2, Coforge at ₹2,119, LG Electronics at ₹1,836, Aurobindo Pharma at ₹1,786.1, Motilal Oswal Financial Services at ₹1,094.8, Marico at ₹897, Indian Hotels Company at ₹872.8, Lenskart Solutions at ₹762.75, and FSN E-Commerce at ₹363.4. In the smallcap space, four stocks from the Nifty Smallcap 100 touched their one-year high level, with Gland Pharma leading at ₹3,208.6, Anand Rathi Wealth at ₹2,384.5, Dr. Lal Pathlabs at ₹2,061.9, and Sona BLW Precision at ₹918.7.
FSN E-Commerce Ventures, the parent company of Nykaa, hit 52-week highs a day after reporting exceptional Q2 FY27 results. The beauty and personal care retailer posted a 197% year-on-year surge in consolidated net profit to ₹101 crore for the quarter ended September 30, 2026, compared to ₹34 crore in the corresponding quarter last year. Revenue from operations increased 28% YoY to ₹3,006 crore as compared to ₹2,346 crore in Q2 FY26, while consolidated gross merchandise value (GMV) grew 30% annually to ₹6,151 crore. Lenskart Solutions shares jumped 10.5% to hit a fresh all-time high of ₹762.75 as investors cheered Q2 FY27 earnings, with the company's revenue from operations jumping 32.5% YoY to ₹2,845 crore led by volume growth and premiumisation.
Marico reported strong Q2 FY27 results with consolidated net profit growing 31% to ₹550 crore for the September quarter, compared to ₹420 crore in the same quarter of the previous fiscal year. Revenue from operations stood at ₹3,897 crore, increasing 13% YoY from ₹3,450 crore, while EBITDA grew 27% to ₹709 crore with the margin expanding to 18.19% for the reporting quarter, the highest in 50 quarters. Gland Pharma's consolidated profit after tax increased 27.39% to ₹193.9 crore for the September quarter, with total revenue rising to ₹908.2 crore from ₹755.4 crore year-ago. Dr. Lal Pathlabs reported a 27% increase in consolidated PAT to ₹193.9 crore for the July-September period, with total revenue increasing to ₹908.2 crore from ₹755.4 crore.
The market rally extended beyond the Sensex with both Nifty Midcap 100 and Nifty Smallcap 100 rising over 2% and 1.4% respectively, as reported by Business Standard. Among the notable performers, Ather Energy gained 30% in the last month with a new high of ₹1,921 against current market price of ₹1,907.10. Apollo Tyres surged 30% in the past month, reaching ₹1,582.10 from ₹1,575.95. Vedanta Limited also hit a new high of ₹895.25 with a 21% gain in the last month. This broad-based rally indicates strong investor confidence across multiple sectors, with the correction in global crude prices, pullback in bond yields, massive FII buying interest and improving sentiment about the West Asia conflict driving the market momentum.
