Stock Market LIVE Updates: Nifty near 19,790, Sensex up 290 pts; JSW Steel, Tata Motors, RIL top gainers

 

Indian equity benchmarks traded with significant gains in the afternoon session on Wednesday, November 21, 2023. The BSE Sensex rose 290.16 points to 65,634.17, while the NSE Nifty 50 advanced 88.10 points to 19,784.10.

 

Index Movers

JSW Steel, Tata Motors, and Reliance Industries were among the top gainers on the Nifty 50 index, rising 5.48%, 4.81%, and 2.75%, respectively. Other notable gainers included Hindalco Industries, up 4.12%, and ICICI Bank, up 1.58%.

 

Sectoral Performance

The broader market was also positive, with all BSE sectoral indices trading in the green. The BSE Metal index surged 4.53%, while the BSE Auto index gained 3.90%. The BSE Power index rose 2.93%, and the BSE Oil & Gas index advanced 2.33%.

 

Market Sentiment

The positive sentiment in the market was supported by a rebound in global equities and hopes of a better earnings season for Indian companies.

 

Analysts' Views

"The Indian market is showing resilience amidst global volatility," said Vinod Nair, Head of Research at Geojit Financial Services. "The recent correction has provided an opportunity for investors to buy into quality stocks. We expect the market to continue its upward momentum in the coming days."

 

Key Highlights

• The Sensex gained 290.16 points to 65,634.17.
• The Nifty 50 index advanced 88.10 points to 19,784.10.
• JSW Steel, Tata Motors, and Reliance Industries were among the top gainers on the Nifty 50 index.
• All BSE sectoral indices traded in the green.
• The positive sentiment in the market was supported by a rebound in global equities and hopes of a better earnings season for Indian companies.

 

Looking Ahead

The Indian market is likely to continue its upward momentum in the coming days, supported by positive global cues and hopes of a better earnings season for Indian companies. Investors should focus on stock-specific fundamentals and use any dips in the market to buy quality stocks.

 

Disclaimer

The views and opinions expressed in this blog are for informational purposes only and should not be construed as financial advice. Please consult with a qualified financial advisor before making any investment decisions.

 

I hope this blog is helpful. Please let me know if you have any other questions.