In the last one and a half months, the stock market faced a correction, causing investors to incur heavy losses. The ongoing bear grip kept both indices consistently touching lower levels. In such a scenario, investors were eagerly awaiting a bull run.
In today’s trading session, the market saw a turnaround as the continuous decline came to a halt. Both indices ended Friday’s session with significant gains. The rise in shares of blue-chip companies like Reliance Industries, along with IT and tech stocks, contributed to the market’s upward momentum. Today, the Sensex closed at 79,117.11 points, gaining 1,961.32 points or 2.54 per cent. Similarly, the Nifty ended at 23,907.30 points, up by 557.40 points or 2.39 per cent.
BSE Midcap and Smallcap Indices Gain
The BSE Midcap index gained 1.3 percent, while the Smallcap index rose by about 1 percent. Across all sectors, there was a positive movement. PSU banks, IT, FMCG, energy, and realty sectors saw gains of 2-3 percent.
Top Gainer and Loser Stocks
In today’s trading session, the shares of State Bank of India, TCS, ITC, UltraTech Cement, and Titan saw gains in Nifty, while Bajaj Auto was the top loser. All 30 companies in the Sensex closed in the green.
Some of the top gainers included:
- State Bank of India
- Tata Consultancy Services (TCS)
- Titan
- ITC
- Infosys
- Larsen & Toubro
- Reliance Industries
- Bajaj Finance
Adani Group Stocks Show Recovery
Shares of the Adani Group saw a sharp decline on Thursday following allegations of bribery and fraud against Gautam Adani in the US. However, today, several Adani Group stocks made a recovery. According to the Bombay Stock Exchange (BSE):
- Ambuja Cements rose by 3.50 percent
- NDTV increased by 0.65 percent
- Adani Total Gas gained 1.18 percent
- Adani Ports rose by 2.05 percent
- Adani Enterprises went up by 2.16 percent
- ACC gained 3.17 percent
Why Did the Market Rise?
The market was buoyed by strong US labor market data, which contributed to a rise in shares of Indian IT companies. On November 16, US unemployment claims fell by 6,000, reaching a 7-month low. This contributed to a more than 2 percent rise in the Nifty index today.
🚨🌟Nifty 50 Index ended in Bullish with a surge of 2.4% 🔥📈today🚨
Here are the top 5 factors that have influenced today’s market:
1⃣IT stocks, including TCS, Infosys, and HCL Tech, rose nearly 4% following positive US labor market data showing a rebound in job growth.
2⃣… pic.twitter.com/TXMqr1e9rD
— Trade Brains Portal (@TbPortal) November 22, 2024
Positive signals from global markets also boosted investor confidence. The GIFT-Nifty saw significant gains.
Domestic Institutional Investors (DIIs) also played a key role in the market’s rise. DIIs invested approximately Rs 35,836.93 crore in the stock market in November, helping to provide momentum.
Global Market Situation
In Asian markets, Seoul and Tokyo remained in positive territory, while Shanghai and Hong Kong closed lower. European markets showed a decline, while US markets closed with gains on Thursday.
Global oil benchmark Brent crude rose by 0.19 percent, reaching US$ 74.37 per barrel.
Foreign and Domestic Institutional Investments
On Thursday, Foreign Institutional Investors (FIIs) sold equities worth Rs 5,320.68 crore, while Domestic Institutional Investors (DIIs) bought shares worth Rs 4,200.16 crore.
Avijit Das
A sports journalist driven by passion and dedication, I seamlessly blend my love for writing and sports. Currently with Timesbull, I have honed my craft at Sportskeeda, Cricreads, and Athlete Fortune. I live and breathe sports—whether it's football, cricket, cards, or chess, I'm always up for a challenge. A die-hard...
