The Nifty and Sensex, which are benchmark indices, started the day positively on November 29. The Sensex gained over 400 points, representing a 0.52% increase to reach 79,451.01. Similarly, the Nifty rose by 0.54% to reach 24,043.70.

The rebound in the market came after a significant decline the previous day, which was the largest single-day fall in almost two months. The strong performance of the pharma and energy sectors was the main driver behind this surge. Market experts believe that these recent adjustments in the market reflect expectations of a slower pace of interest rate cuts. This is influenced by persistent inflationary pressures and the robust economic growth in the United States. In October, the Core PCE Price Index, which is the Federal Reserve's preferred inflation measure, increased by 2.8% year-on-year. This has tempered expectations of near-term policy easing.

As of 9:45 am, the market breadth showed that 1,793 shares were advancing, 1,041 shares were declining, and 140 shares remained unchanged.