Stock Market Update: In the last month and a half, there was a period of decline in the stock market, due to which investors had to suffer huge losses. Due to the recession, both indices continually hit low levels. In such a situation, investors were eagerly waiting for the rise.
In today’s trading session, there was a rise in the market and the continuous decline stopped. Both indices finished Friday’s session with significant gains. A rise in shares of blue-chip companies like Reliance Industries as well as IT and technology stocks contributed to the market rally. Today the Sensex closed at 79,117.11 points with a gain of 1,961.32 points or 2.54 per cent. Similarly, Nifty closed at 23,907.30 points with a gain of 557.40 points or 2.39 per cent.
BSE mid and small cap indices rise
The BSE Midcap index gained 1.3 per cent, while the Smallcap index gained nearly 1 per cent. A positive trend was observed in all sectors. 2-3 per cent growth was seen in PSU banking, IT, consumer goods, energy and real estate sectors.
Stocks that made the most gains and suffered the most losses
In today’s trading session, shares of State Bank of India, TCS, ITC, UltraTech Cement and Titan saw gains on the Nifty, while Bajaj Auto was the biggest loser. All 30 companies included in Sensex closed in the green.
The biggest winners include:
- State Bank of India
- Tata Consulting Services (TCS)
- titan
- TIC
- infosys
- Larsen and Toubro
- Trusted Industries
- Bajaj Finance
Recovery of Adani Group shares
After allegations of bribery and fraud against Gautam Adani in the United States, there was a huge drop in the shares of the Adani Group on Thursday. However, many Adani Group stocks improved today. According to the Bombay Stock Exchange (BSE):
- 3.50 percent increase in Ambuja cements
- 0.65 percent increase in NDTV
- Adani Total Gas rose 1.18 percent
- 2.05 percent increase in Adani ports
- 2.16 percent rise in Adani Enterprises
- ACC increased by 3.17 percent
Why did the market go up?
Strong US labor market data boosted the market, leading to a rise in stocks of Indian IT companies. U.S. jobless claims fell by 6,000 on Nov. 16, hitting a seven-month low. Due to this, the Nifty index rose more than 2 percent today.
Positive signals from global markets also boosted investor confidence. A significant increase was observed in GIFT-Nifty. Domestic institutional investors (DIIs) also played an important role in the market rally. In November, DIIs invested around Rs 35,836.93 crore in the stock market, leading to a surge in the market.
world market situation
Among Asian markets, Seoul and Tokyo remained in the positive zone, while Shanghai and Hong Kong recorded falls. European markets experienced a decline, while American markets closed with gains on Thursday. Global benchmark Brent crude rose 0.19 percent to $74.37 per barrel.
Foreign and national institutional investment
On Thursday, foreign institutional investors (FIIs) sold shares worth Rs 5,320.68 crore, while domestic institutional investors (DIIs) bought shares worth Rs 4,200.16 crore.
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