Sensex, Nifty at day’s high; all sectors in the green

Analysts caution that the economic slowdown in India, which has seen the worst growth in almost two years, might exacerbate the short-term weakness of the stock market. The Nifty50 has down 8% since September because to high valuations and worries about the economy, even if a recovery is anticipated in the second half of the fiscal year, contingent on possible RBI rate reduction or relaxation of deposit requirements. In November, foreign investors pulled out $2.6 billion.

The bulls made a strong comeback on the Street, with the benchmark indices Nifty and Sensex surging nearly 2 percent each, propelling investor wealth by a staggering Rs 8.5 lakh crore in just one day. A confluence of factors—including the positive outcome of the Maharashtra elections, encouraging signals from Asian and US markets, and a welcome dip in foreign outflows—sparked widespread buying across the bourses.

Indian benchmark indices BSE Sensex and Nifty 50 were trading higher on Friday.

At 2 PM, the BSE Sensex was at 78,657, up 1,501 points, or 1.95 per cent, while the Nifty 50 was at 23,793, up 443 points, or 1.9 per cent.

After opening bell, 20 out of the 30 stocks on the BSE Sensex were trading higher, with gains of up to 1.17 per cent, led by SBI, followed by ICICI Bank, Tata Motors, IndusInd Bank, and Tech Mahindra. Among the top drags were Adani Ports & SEZ (down 3.28 per cent), followed by TCS, ITC, Titan, and Nestle India.

A day after snapping their multi-day losing streak, Indian stock market benchmarks- the Sensex and the Nifty 50- resumed their downward march on Thursday, November 21, amid weak global cues.

The domestic market witnessed a broad selloff as mid and small-cap segments also suffered losses.