Is the Sensex and Nifty Rising Due to Global Optimism?
Synopsis
Key Takeaways
- Sensex increased by 260 points to 84,847.
- Nifty gained 88 points to 25,973.
- Strong global cues are influencing the market positively.
- Investors advised to accumulate quality stocks.
- Broader markets are showing robust investor interest.
Mumbai, Nov 26 (NationPress) The Indian stock markets started the day on a positive note this Wednesday, buoyed by robust global indicators.
The Sensex increased by 260 points, equivalent to 0.31 percent, reaching 84,847, while the Nifty advanced by 88 points, or 0.34 percent, trading at 25,973 in the early hours of trading.
According to analysts, "The Nifty remains within a defined range, facing resistance around 26,000–26,050 and a near-term support level at 25,750–25,800; this area may see accumulation if tested."
They further noted, "New long positions can be contemplated once the Nifty decisively surpasses 26,100–26,130, while maintaining vigilance on global indicators and critical technical levels."
Global markets have shown upward momentum for the third consecutive day, as investors express optimism regarding a potential US Federal Reserve rate reduction in December 2025.
This favorable outlook has also elevated domestic stocks.
Key contributors to the gains on the Sensex included Tata Motors PV, Trent, Adani Ports, Tata Steel, L&T, Ultratech Cement, Infosys, Maruti Suzuki, ICICI Bank, and Tech Mahindra.
Conversely, Bharti Airtel, Hindustan Unilever, and TCS were the only stocks experiencing declines during the initial trading session.
Broader indices also exhibited gains, with the Nifty MidCap index rising by 0.53 percent, and the Nifty SmallCap index advancing by 0.79 percent, indicating robust interest from investors.
Among different sectors, metals led the rally, with the Nifty Metal index surging by 1.7 percent.
PSU banks, IT, financial services, and private banks also recorded increases of up to 0.8 percent, enhancing the overall positive sentiment in the market.
Analysts recommend that retail investors should avoid trading actively and focus on gradually acquiring fairly valued, high-quality growth stocks, which may become available at appealing prices amid increased volatility.