Indian Markets Rebound on Strong Macroeconomic Data; Financials, Banks, IT Lead Rally
- The Market Sutradhar
- Nov 23, 2024
- 2 min read
The Indian markets rebounded strongly on Friday, driven by positive domestic macroeconomic data. Improved business activity in November, combined with bargain hunting after Thursday's dip, lifted investor sentiment.
Large-cap stocks outperformed, with 49 of the Nifty50 constituents finishing in positive territory. By the end of the week, the BSE Sensex had surged by an impressive 1,961 points.
Key sectors that led the rally included financials, banks, IT, and realty, with notable gains across the board. The Nifty IT, PSU Bank, and Realty indices all posted increases of around 3%.
In contrast, the media index faced continued pressure, failing to participate in the broader market surge. Market volatility ticked up slightly, with the India VIX closing marginally higher.
Trending Corporate News:
Bharti Airtel: Reported gains in revenue market share in Q2 FY25 among major telecom operators, while Jio and Vodafone saw their shares decline (Source: Economic Times).
Adani Group: S&P Global Ratings downgraded its outlook to 'negative' for three group companies (Source: Economic Times).
New Listing: Zinka Logistics debuted on the market, listing at a 3% premium over its issue price (Source: Moneycontrol).
Top 5 Gainers & Losers |
Gainers | 6.4%
Info Edge | 5.4%
PFC | 4.5%
SBI | 4.2%
TCS | 4.1%
Titan |
Losers | 8.2%
Adani Green Energy | 6.9%
Adani Energy Sol | 3.3%
Adani Power | 1.4%
JSW Energy | 0.9%
Zomato |
Index | Prev. Close | %Change | Year High | Year Low |
Nifty 50 | 23907.25 | 2.39 | 26277.35 | 18837.85 |
Nifty Bank | 51135.40 | 1.51 | 54467.35 | 42105.40 |
FinNifty | 23623.75 | 1.51 | 25201.95 | 18870.15 |
Nifty Midcap100 | 55016.85 | 1.16 | 60925.95 | 37655.85 |
Nifty Smallcap 100 | 17755.55 | 0.90 | 19640.60 | 12048.75 |
Global Highlights:
UK Retail Sales: Retail sales for October fell faster than anticipated, highlighting economic challenges.
US Unemployment Claims: Initial jobless claims for the week ending November 16th declined to 213,000, beating the forecast of 220,000.
Dollar Index: The US dollar reached a 13-month high as investors shrugged off the potential December rate cut by the Federal Reserve.
F&O Corner |
Index Name | Last Close | Resistance (Call - Max OI) | Support (Put - Max OI) |
Nifty 50 | 23,907 | 23,500 | 21,600 |
Nifty Bank | 51,135 | 53,000 | 46,000 |
FinNifty | 23,623 | 24,200 | 22,000 |
Sensex | 79,117 | 79,500 | 79,000 |
Bankex | 58,306 | 60,000 | 56,000 |
IPO Corner |
Enviro Infra Engineers Ltd.
Price Band | Opening Date | Closing Date |
₹140 - ₹148 | Nov 22, 2024 | Nov 26, 2024 |
FAQ in Spotlight |
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