Indian equity markets rebounded on December 5, with the Sensex rising 809.53 points to 81,765.86 and the Nifty up 240.95 points to 24,708.40, driven by strong FII inflows and positive global sentiment following comments from US Federal Reserve Chairman Jerome Powell.Central Depository Services (CDSL) shares hit an all-time high, gaining 8%, while the Nifty IT index rose 2% amid optimism for US tech stocks. In contrast, Genus Power fell 5% after a search by enforcement officials, and Divi's Laboratories dropped 3% due to patent issues affecting a key drug.
The National Stock Exchange (NSE) has expanded its futures and options (F&O) segment by adding 45 new stocks, effective November 29, 2024, increasing the total to 223. This inclusion, following SEBI’s revised criteria, aims to enhance liquidity and market participation, featuring notable stocks like LIC, Jio Financial Services, and Zomato. Analysts anticipate that this move will boost trading volumes and improve price discovery for these stocks.
On October 30, the market experienced a decline of half a percent, despite a favorable breadth with 1,924 shares gaining against 593 falling on the NSE. Consolidation and rangebound movement are anticipated to persist, as volatility has surged to an 11-week high. Key trading ideas include CDSL and Balrampur Chini, as suggested by Jatin Gedia, Technical Research Analyst at Sharekhan by BNP Paribas.
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