Sensex surges 742 points, Nifty closes above 19,650 with all sectors in green

Nov 17, 2023

In a significant surge, the Indian stock market witnessed a robust performance as both the Sensex and Nifty recorded substantial gains on Wednesday. The S&P BSE Sensex marked an impressive climb of 742 points, concluding at 65,676, while the NSE Nifty50 settled at 19,675, showing an upward movement of 232 points. The bullish trend was attributed to widespread buying activities across various sectors, coupled with favorable inflation data. Among the 30 shares on the Sensex, TechM emerged as the front-runner, experiencing a notable gain of 3.83 per cent. Other prominent gainers included Tata Motors, Infosys, Wipro, Tata Steel, and TCS. However, a few stocks faced declines, with Bajaj Finance, IndusInd Bank, and PowerGrid being the notable losers.
 
Sectorwise, all major indices closed in the green, demonstrating the overall strength of the market. Sectors like capital goods, auto, metal, information technology, oil & gas, and realty experienced gains ranging from 1 to 3 per cent. Notably, the Nifty Realty index led the pack with a substantial surge of 2.95 per cent, followed by the Nifty IT index, which rose by 2.59 per cent. The Nifty Auto, Nifty Financial Services, and other key sectors also contributed to the positive momentum.
 
This remarkable upswing came after the previous session on Monday, where the market experienced a dip, with the BSE Sensex closing 326 points lower at 64,934 and the NSE Nifty50 settling at 19,444, down by 82 points. Notably, the stock market remained closed on Wednesday due to Balipratipada.
 
Investors and market analysts are closely monitoring these market fluctuations, and the recent surge has instilled optimism, indicating positive sentiments prevailing in the stock market. The performance of leading stocks and sectors is crucial in gauging the overall economic outlook, especially amid changing global economic conditions.
 
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