FINAL TRADE: Indices snap two-session losing streak; Sensex up 276 pts higher, Nifty ends at 19,783
Stock market today: The NSE Nifty 50 index ended 0.45 per cent or 89.4 points higher at 19,783.4 points, while the S&P BSE Sensex finished 0.42 per cent or 275.62 points higher at 65,930.77, respectively.
Stock market today: Indian shares closed higher on Tuesday, November 21, led by a rebound in financials and oil & gas stocks, thereby snapping a two-session losing streak. The NSE Nifty 50 index ended 0.45 per cent or 89.4 points, higher at 19,783.4, while the S&P BSE Sensex finished 0.42 per cent or 275.62 points, higher at 65,930.77.
Barring the Nifty Small Cap Index, all broader market indices ended in green. The heavy-weight bank index—Nifty Bank—finished over 100 points higher at 43,689.15. On the contrary, the Nifty IT closed at 32,325.7, down 57.5 points, or 0.18 per cent.
"The declining inflation and the recent cooling job data in the US provide the foundation for a dovish comment from the Fed. The drop in bond yields and the dollar index suggests mounting speculation regarding the potential peak in the interest rate cycle. This will attract funds to emerging markets. The gain in the broad market was led by consumer durables and realty, thanks to a strong rebound in festive demand," Vinod Nair, Head of Research at Geojit Financial Services, said.
SBI Life, HDFC Life, Adani Enterprises, and Hindalco were among the top gainers in the Nifty basket, trading with gains of around 2–3 per cent. On the other hand, BPCL, TechM, LTIMindtree, and NTPC are among the top losers.
Global Market
European shares were subdued on Tuesday as declines in financial stocks offset miners, while investors continued to look for clues to support expectations that major central banks are done with interest rate hikes. The pan-European STOXX 600 edged up 0.1 per cent by 0810 GMT. Banks lost 0.6 per cent, while miners gained 0.8 per cent, tracking strong metal prices.
Investors will keep an eye out for minutes from the US Federal Reserve's latest policy meeting, where it held interest rates steady, due later in the day. Dow Jones, S&P 500, and Nasdaq Composite futures indicate a mildly weaker start ahead on Wall Street.
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