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Indian equity markets rebounded sharply on November 29, with the BSE Sensex rising 789 points to 79,832 and the NSE Nifty gaining 239 points to 24,153. This rally was fueled by strong domestic buying, attractive valuations following recent corrections, and renewed confidence in India's growth story. Market breadth was positive, with 1,904 shares advancing against 1,460 declining.
Indian equity markets faced significant losses on November 28, with the BSE Sensex dropping 931 points (1.2%) to 79,302 and the NSE Nifty falling 274 points to 24,000. The decline was driven by weakness in IT and auto stocks, compounded by a stronger US dollar impacting emerging-market assets. Despite the downturn, market breadth remained positive with 1,865 shares advancing against 1,510 declining.
BSE Sensex and NSE Nifty experienced a significant pullback after reaching intraday highs, with Sensex down 600 points from its peak and Nifty facing resistance at 24,350. Despite a strong opening, selling pressure led to a retreat, and analysts warn of broader challenges ahead, projecting Nifty could drop to 22,000 amid modest earnings growth forecasts.
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