Last Updated:
Market Today: Despite blended worldwide signs, the Indian indices opened up higher on November 26 with Nifty over 24300
Stock Market Updates
Benchmark equity indices finished their two-day winning touch, shutting reduced onTuesday The BSE Sensex decreased by 105.79 factors, or 0.13%, to shut at 80,004.06. The index traded in between 80,482.36 and 79,798.67 throughout the session.
Similarly, the NSE Nifty 50 went down 27.40 factors, or 0.11%, to work out at 24,194.50, after getting to an intraday high of 24,343.30.
Among the 50 supplies in the Nifty 50, 27 shut reduced, bore down by Adani Enterprises, Adani Ports, Ultratech Cement, Bajaj Auto, and Sun Pharma, which saw losses of approximately 4.02%. On the various other hand, 23 supplies progressed, with Shriram Finance, Britannia Industries, Asian Paints, Bharat Electronics, and Infosys uploading gains of approximately 3.26%.
Small- cap supplies outshined the wider market, with the Nifty Small cap100 index climbing 0.82%. In comparison, the Nifty Midcap100 index finished level on the day.
Sectoral indices revealed a blended efficiency. Nifty IT, FMCG, and Media fields led the gains, while Auto, Pharma, Healthcare, and OMCs fields finished in the red.
Dr V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, mentioned that the marketplace rally is not likely to maintain. “The two-day rally is not likely to last as a result of worries over profits. The brief covering and favorable view from the Maharashtra political election outcomes will likely be short-lived. The rise in FIIs’ acquiring was mostly driven by MSCI rebalancing, with a greater weightage for HDFCBank Leading financial institutions will certainly stay resistant as a result of constant acquiring and sensible evaluations,” he said.
Foreign institutional investors (FIIs) turned net buyers for the first time on Monday, snapping a record 38-day selling streak. They bought shares worth Rs 9,947.55 crore, the highest since September 20. Meanwhile, domestic institutional investors (DIIs) sold shares worth Rs 6,907.97 crore on November 25.
On the downside, the 23,850-24,000 range is expected to provide strong support in the event of a pullback. Traders and investors should focus on sectors showing relative strength, such as IT and banking, while being more selective in others, advised Ajit Mishra, Senior VP, Research at Religare Broking.
Global Cues
Global cues are mixed despite a strong performance by the US markets. Japan’s Nikkei fell nearly 1.5%, even as data revealed Japan’s service PPI rose 2.9% year-on-year, slightly above the previous month’s 2.8% growth.
Other Asian markets, including Kospi, Taiwan, and Straits Times, declined by up to 0.7%, while Hong Kong’s Hang Seng and China’s Shanghai Composite showed modest gains.
In the US, the Dow Jones and the S&P 500 closed at record highs, buoyed by optimism following Trump’s nomination for Treasury Secretary. The Dow surged 1%, the S&P 500 gained 0.3%, and the NASDAQ also rose by 0.3%.
Oil prices fell as Treasury Secretary nominee Bessent advocated for increased US production, and Israel suggested a ceasefire deal with Hezbollah in Lebanon could be imminent.
