New Delhi, Nov. 4 -- Indian equity markets extended their winning run on Wednesday, 4 November, with the Nifty 50 and Sensex logging their longest consecutive gains in nearly five months. A combination of expectations of renewed foreign institutional investor (FII) buying, broad-based domestic participation and optimism around global developments lifted investor sentiment, even as markets tracked the outcome of the US midterm elections.

The Nifty 50 advanced 5.55% over five trading sessions, while the Sensex climbed 5.53% during the same period. Buying was visible across market segments, with midcap and smallcap indices outperforming the benchmarks, rising 1.55% and 2%, respectively.

Among individual stocks, Bharat Electronics (BEL) led...