Indian equity markets witnessed a significant recovery on November 29, as the benchmark indices Sensex and Nifty recorded a 1 percent increase. The BSE Sensex surged by 789 points to reach 79,832, while the NSE Nifty climbed 239 points, crossing the 24,100 level at 24,153. This rally was driven by strong buying interest from domestic investors, attractive valuations following recent corrections, and renewed confidence in India's economic growth.

The market breadth was notably positive, with 1,904 shares advancing compared to 1,460 shares declining, and 100 shares remaining unchanged. Analysts point out that historically, the IT gauge has seen an average 10 percent increase in the last quarter of the year since 2000, further supporting the positive sentiment in the markets.

The increase in the benchmark indices can be attributed to the strong buying interest from domestic investors, attractive valuations, and renewed confidence in India's economic growth. This positive sentiment is further supported by historical data, which shows an average 10 percent increase in the IT gauge during the last quarter of the year since 2000. The market breadth was notably positive, with more shares advancing than declining. This recovery indicates a positive outlook for the Indian equity markets.