Stock Market Today: Sensex and Nifty Rally Amid Strong Global and Domestic Trends
Table of Contents
- Market Performance Overview
- Key Drivers Behind Today’s Rally
- Sectoral Performance Highlights
- Investor Sentiment and Market Outlook
Market Performance Overview
The Indian stock market experienced a significant rebound on Friday:
- Sensex: Closed at 79,117.11, up 1,961 points (+2.54%).
- Nifty50: Finished at 23,907.25, gaining 557 points (+2.39%).
The collective market value of BSE-listed companies rose by ₹7.2 lakh crore, reaching ₹432.55 lakh crore.
Key Drivers Behind Today’s Rally
IT Sector Performance
The IT sector gained almost 2%, fueled by positive US labour market data:
- US Jobless Claims: Dropped to 213,000 for the week ending November 16, marking a seven-month low.
- This recovery bolsters confidence in Indian IT companies, which derive significant revenues from US operations.
Adani Shares Recovery
Adani Group stocks rebounded after consecutive losses:
- Top Gainers: Ambuja Cement (+6%), ACC (+4%), Adani Enterprises (+2.5%).
- Other Adani firms, including Adani Green Energy and Adani Ports, posted gains between 1% and 2%.
Value Buying Opportunity
- With Nifty correcting over 11% from its peak and mid-cap/small-cap indices falling 12% and 9%, respectively, investors seized the opportunity to acquire undervalued stocks.
Global Market Influence
Positive trends in Asian markets boosted domestic sentiment:
- Japan’s Nikkei: Gained after two losing sessions.
- Korea’s Kospi: Increased by 0.84%.
- Australia’s S&P ASX 200: Rose by 0.85%.
PSU Banking Sector Surge
Public sector banks led the recovery:
- Top Performers: SBI, Bank of Baroda, and Punjab National Bank.
- Nifty PSU Bank Index: Advanced nearly 3%, reaching 6,509.2.
Political Developments in Maharashtra
- Exit polls indicated a likely victory for the BJP-led Mahayuti alliance in Maharashtra.
- This stability in a key economic region positively impacted investor sentiment.
Sectoral Performance Highlights
- Nifty PSU Bank & Realty: Advanced nearly 3%.
- Other Sectors: Banking, Financial Services, FMCG, IT, Metals, Healthcare, and Oil & Gas recorded gains between 1% and 2%.
- Top Contributors: ICICI Bank, Reliance Industries, SBI, Infosys, ITC, and L&T.
Investor Sentiment and Market Outlook
The sharp recovery signals renewed optimism among investors:
- Short-Term Sentiment: Positive, supported by global trends and robust sectoral performance.
- Caution Ahead: Investors should remain vigilant about international developments and domestic political outcomes.
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