Sensex Gains 759 Points, Led by Bharti Airtel and Sun Pharma
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Mumbai, Nov 29 (NationPress) The Indian stock market concluded on a positive note on Friday as both the equity benchmark indices Sensex and Nifty experienced a robust rally. This solid recovery allowed the market to bounce back from the recent session's sell-off caused by F&O (futures and options) expiry.
Sensex finished at 79,802.79, marking an increase of 759.05 points or 0.96 percent. Meanwhile, Nifty closed at 24,131.10, gaining 216.95 points or 0.91 percent. The domestic stock market's rise was attributed to improved investor sentiment and specific stock activities.
Nifty Bank rose by 148.75 points or 0.29 percent to 52,055.60. The Nifty midcap 100 index concluded at 56,392.65, with a gain of 91.90 points or 0.16 percent. Similarly, the Nifty smallcap 100 index finished at 18,650.95, rising by 139.40 points or 0.75 percent.
Market analysts noted that, "A broad-based rally led by large-cap stocks took place in the domestic market. Discretionary sectors excelled, benefiting from the festive season. The pharma and healthcare sectors showed renewed growth, supported by robust earnings and a moderation in valuations following recent corrections."
They added, "The anticipated slowdown in India's Q2 GDP to 6.5 percent has already been factored into Q2 corporate earnings, which the market seems to have anticipated. Meanwhile, global sentiment remained downcast due to the strengthening of the Japanese yen, as inflation continues to exceed the central bank's tolerance levels."
In terms of sectoral performance, pharma, healthcare, commodities, infrastructure, media, energy, and automobile sectors were the major winners. Conversely, PSU bank and real estate sectors faced significant losses.
Within the Sensex group, the top performers included Bharti Airtel, Sun Pharma, M&M, Ultra Tech Cement, Adani Ports, L&T, JSW Steel, Hindustan Unilever Limited, and Titan. In contrast, Power Grid, Nestle India, SBI, and Infosys were among the top losers.
On the Bombay Stock Exchange (BSE), 2,334 shares traded positively, while 1,608 shares experienced declines, with 127 shares remaining unchanged.
