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The market rebounded strongly, recovering nearly 2% for the week ending November 22, driven by short-covering ahead of the BJP-led Mahayuti alliance's victory in Maharashtra assembly elections. As the week of November 25 begins, attention will shift to the assembly election results, India's GDP figures, and U.S. economic data, with expectations of continued positive momentum despite potential volatility from monthly F&O expiry. The BSE Sensex closed at 79,117, up 1.98%, while the Nifty 50 rose 1.6% to 23,907.
Investors covered short positions in NSE Nifty and Bank Nifty ahead of the Maharashtra and Jharkhand election results, leading to significant unwinding in the November derivatives series. Nifty surged to reclaim 23,900, with key resistance at 24,000 and support at 23,500, as FIIs increased net long positions, reflecting a cautiously optimistic market sentiment.
Indian share markets experienced a significant surge on November 22, with the BSE Sensex rising nearly 2,000 points and the NSE Nifty reclaiming 23,900, attributed to a technical bounceback from oversold conditions and short-covering. This rally added Rs 7.58 lakh crore in investor wealth, but analysts caution that the sustainability of this rebound will depend on reactions to key upcoming events, including the Maharashtra election results.
The Indian rupee has reached a record low, impacted by declining local equities and a strong dollar. The benchmark equity indexes, BSE Sensex and Nifty 50, have both fallen approximately 0.7%.
Indian equity markets continued their decline on November 18, with the NSE Nifty 50 falling below 23,400 and the BSE Sensex down over 10% from its September high. A selloff in IT stocks and concerns over US interest rate cuts contributed to the downturn, as foreign institutional investors maintained their selling streak. Analysts suggest the Nifty may test the 23,000 level, presenting potential buying opportunities for long-term investors.
Indian benchmark indices continued their correction for the sixth consecutive session on November 14, with the Nifty closing at 23,532.70, down 26.35 points or 0.11%. The Sensex fell by 110.64 points, or 0.14%, to 77,580.31. For the week, both indices dropped 2.5%, with sectors like FMCG, power, PSU Bank, and oil & gas declining, while auto, media, and realty sectors saw gains.
Benchmark indices continued to decline on November 14, with the Nifty 50 closing lower for the sixth consecutive session and the Sensex losing 2,800 points over the past days. Analysts attribute this downturn to a "natural cycle of profit-taking" following high valuations, as foreign institutional investors persist in selling. With Nifty dipping below 23,500, concerns grow that the correction in Indian equities may deepen amid ongoing domestic and global challenges.
The Indian benchmark indices continued their decline for the sixth consecutive session on November 14, with the Nifty closing below 23,550 amid selling pressure in FMCG, PSU Bank, and oil & gas sectors. The Sensex fell by 110.64 points to 77,580.31, while the Nifty dropped 26.35 points to 23,532.70, marking a 2.5% loss for the week. Despite initial gains, selling at higher levels led to a downturn, although buying in realty, auto, and media sectors helped the Nifty close above 23,500 amidst volatility.
NSE Nifty 50 has entered correction territory, falling over 10% from its peak of 26,277.35 on September 27, 2024. On November 13, it dropped 374 points to 23,509.6, marking the fifth consecutive session of losses, driven by foreign institutional investor selling and concerns over high valuations. The BSE Sensex also fell over 1,100 points, reflecting a broader market decline amid macroeconomic uncertainties.
The stock markets closed significantly lower on November 13, marking the fifth consecutive day of losses, driven by inflation concerns and a selloff in metal stocks. The Nifty has fallen 10% from its peak, while the Sensex has dropped 8,000 points, with mid- and small-cap indices declining even more. By 2:20 pm, the Sensex was down 707.72 points at 77,967.46, and the Nifty was down 244.90 points at 23,638.60, reflecting cautious investor sentiment.
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