Sensex, Nifty Close On Buoyant Note As Stocks Rally On Strong Buying

(RTTNews) - Indian stocks rallied sharply and lifted the benchmark indices Sensex and the Nifty50 to a buoyant close on Friday, a day after suffering a setback following the indictment of Adani Group founder Gautam Adani and a few top executives by U.S. Securities Exchange Commission in an alleged bribery case.

Exit polls indicating a victory for the BJP-led front in Maharashtra and Haryana assembly elections, fairly positive global cues, strong buying in technology and bank stocks, and active buying by domestic funds contributed to the rally in the Indian market.

Technology, automobile, bank, FMCG, metal, realty and healthcare sectors, all had a pretty good outing, with several counters attracting attention past mid afternoon.

The BSE benchmark Sensex ended with a gain of 1,961.32 points or 2.54% at 79,117.11. The broader Nifty50 of the National Stock Exchange closed up 557.35 points or 2.39% at 23,907.25.

On the economic front, flash data from S&P Global said the HSBC India Composite PMI rose to 59.5 in November of 2024 from a final 59.1 in the previous month, the highest reading since August.

The HSBC India Manufacturing PMI fell to 57.3 in November 2024, slightly down from 57.5 in October, and the HSBC India Services PMI increased to 59.2 in November 2024 from a final reading of 58.5 in October, according to preliminary estimates.

State Bank of India, Tata Consultancy Services and Titan gained 4.1 to 4.6%. ITC, Infosys, Larsen & Toubro, Reliance Industries, Bajaj Finance, HCL Technologies, JSW Steel and UltraTech Cement climbed 3.2 to 4%.

Bharti Airtel, Power Grid Corporation, NTPC, M&M, Hind Unilever, Tech Mahindra, Tata Motors, ICICI Bank, Bajaj Finserv, Asian Paints, Maruti Suzuki, Tata Steel, Nestle and IndusInd Bank gained 1.7 to 3%.

Adani Group stocks bounced back fairly strongly, but some of the counters in the Group failed to hold gains and closed weak. Among the gainers, Adani Ports gained about 2%. Adani Enterprises closed up 2.1% and Adani Total Gas gained 1.5%. ACC and Ambuja Cements gained 3.1% and 3.8%, respectively.

Adani Energy Solutions lost nearly 7% and Adani Green Energy tumbled 8%. Adani Power closed down 3%, and Adani Wilmar ended 0.6% down.

The market breadth was quite positive. On BSE, 2,446 stocks closed higher, while 1,475 stocks ended weak, and 120 stocks settled flat.

LIKE.TG：汇集全球营销软件&服务，助力出海企业营销增长。提供最新的“私域营销获客”“跨境电商”“全球客服”“金融支持”“web3”等一手资讯新闻。

点击【联系客服】 🎁 免费领 1G 住宅代理IP/proxy， 即刻体验 WhatsApp、LINE、Telegram、Twitter、ZALO、Instagram、signal等获客系统，社媒账号购买 & 粉丝引流自助服务或关注【LIKE.TG出海指南频道】、【LIKE.TG生态链-全球资源互联社区】连接全球出海营销资源。