FINAL TRADE: Bulls roar on D-Street; Nifty settles above 20,000, Sensex leaps 728 pts
Stock market today: The NSE Nifty 50 index ended 1.04 per cent higher at 20,096.6, thereby reclaiming the 20,000 mark for the first time since September 20, 2023. The S&P BSE Sensex closed 1.1 per cent higher at 66,901.91.
![FINAL TRADE: Bulls roar on D-Street; Nifty settles above 20,000, Sensex leaps 728 pts](https://cdn.zeebiz.com/sites/default/files/2023/11/29/270704-nse-bse-closing-2.jpg?im=FitAndFill=(1200,900))
Stock market today: Indian shares rallied on Wednesday, November 29, on heavy buying in financial and information technology (IT) stocks. The NSE Nifty 50 index ended 1.04 per cent higher at 20,096.6 points, reclaiming the 20,000 mark for the first time since September 20, 2023. The S&P BSE Sensex closed 1.1 per cent higher at 66,901.91.
IT companies, which earn a significant share of their revenue from the US, rose 1.5 per cent after Fed Governor Christopher Waller flagged the possibility of lowering the interest rate in the months ahead if inflation continued to come down. The odds of a 25 basis-point rate cut by March 2024 rose to 40.4 per cent on Wednesday from 21.5 per cent the day before, according to the FedWatch tool.
The heavy-weight bank index—Nifty Bank—ended 1.56 per cent higher at 44,566.45, led by buying in Axis Bank, Bandhan Bank, and other stocks. Both Nifty Small Cap 100 finished 1.03 per cent higher, while Nifty Mid Cap 100 ended 0.81 per cent higher among broad-based market indices.
Satish Menon, Executive Director of Geojit Financial Services, said, "The BSE market cap's ascent to the $4 trillion mark signals the start of fresh momentum in the stock market. The Indian stock market is rallying due to solid Q2 earnings and a drop in crude oil prices. Domestic liquidity has provided support to the market, but the lack of foreign fund inflows due to high US bond yields has been a hindrance.
"Fortunately, interest rates in the US have peaked, and the dollar index is declining, which is expected to attract foreign institutional investors (FIIs) into the Indian equity market. The consistent decline in the Consumer Price Index over the past four months has also sent out a positive signal to the market," he added.
"Despite the strong fundamentals, there may be some volatility in the market leading up to the state election results, which are due on December 3. Having said that, we can definitely say that India's growth story remains intact, and the market will be on an upward trajectory going ahead," the expert added.
Global Market
European shares inched higher on Wednesday, with Frankfurt shares leading gains after data showed easing inflation in the German state of North Rhine-Westphalia, while British blue-chip stocks dipped as the pound stayed elevated.
The German DAX rose 0.4 per cent after data showed consumer prices in the state of NRW fell by 0.3 per cent month-on-month in November and were up by 3.0 per cent year-on-year.
The 10-year German bund yield fell to a more than three-month low of 2.438 per cent.
(with Reuters inputs)
For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
![https://www.zeebiz.com/personal-finance/photo-gallery-sip-swp-monthly-pension-income-retirement-corpus-planning-calculator-inr-rs-20000-monthly-investment-for-15-years-inr-99000-monthly-return-for-42-years-313283](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/09/06/316973-rupee-pixabay-take-1.jpg?itok=02-hJh59)
SIP+SWP: Rs 20,000 monthly SIP for 16 years to get Rs 99,000 monthly income for 42 years; how is it possible?
![https://www.zeebiz.com/market-news/news-bajaj-finserv-rvnl-borosil-renewables-carysil-railtel-corporation-stocks-to-buy-hdfc-securities-recommendation-picks-target-stop-loss-bse-nse-313386](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/09/06/317091-26.jpg?itok=gE1cWt7z)
RVNL, Bajaj Finserv and 5 more: Brokerage recommends buying these 7 stocks for up to 3 months | Check target, stop loss
![https://www.zeebiz.com/personal-finance/photo-gallery-nps-vs-ups-vs-ops-monthly-pension-income-retirement-corpus-calculator-what-will-be-your-pension-on-inr-rs-10000-contribution-for-35-years-expert-calculations-313361](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/09/06/317060-rupee-pixabay-take-2.jpg?itok=cOVdof_v)
NPS vs UPS vs OPS: What will be your monthly pension if you contribute Rs 10,000 monthly for 35 years? Get expert calculations
![https://www.zeebiz.com/personal-finance/photo-gallery-top-7-etf-sip-mutual-funds-in-5-years-calculator-how-inr-rs-21000-monthly-investment-has-grown-in-nifty-sp-bse-next-50-cpse-uti-icici-pru-nippon-india-motilal-oswal-bharat-22-nift-mid-infra-313306](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/09/06/316994-indian-currency-pixabay-take-1.jpg?itok=JURVEkst)
Top 7 ETF Mutual Funds With Highest SIP Returns in 5 Years: How Rs 21,000 monthly SIP has grown in each ETF over the years
![https://www.zeebiz.com/personal-finance/photo-gallery-sbi-senior-citizen-fd-fixed-deposit-latest-interest-rate-2024-calculator-what-be-maturity-amount-with-return-on-investments-of-inr-900000-lakh-in-1-3-5-year-guaranteed-return-scheme-retirement-planning-313221](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/09/06/316909-note-coin-pixabay-take-1.jpg?itok=3RPKcBYE)
SBI Senior Citizen FD Rates 2024: What you can get if you invest Rs 3 lakh, Rs 5 lakh, Rs 7 lakh, and Rs 9 lakh in 1-, 3-, and 5-year FDs
04:37 PM IST