The Indian stock market ended Tuesday’s session, November 11, with solid gains after a bout of heightened volatility, supported by banking heavyweights such as HDFC Bank, ICICI Bank, and others, which offset sharp losses in Bajaj Finance and Bajaj Finserv.
The Nifty 50 recovered 253 points from the day’s low to settle at 25,701, up 0.50% from the previous close, while the Sensex also rebounded 724 points from its intraday low to end 0.38% higher at 83,849.
The broader markets, however, closed mixed, with the Nifty Midcap 100 rising 0.5%, while the Nifty Smallcap 100 slipped 0.24%.
The market, which opened lower, erased most of its losses by noon and turned positive as sentiment improved over a potential trade deal between the US and India. This came after US President Donald Trump said his administration would work to reduce tariffs on Indian goods, noting that India has significantly lowered its crude imports from Russia.
Meanwhile, the US Senate passed a deal on Monday that would restore US federal funding after a 40-day shutdown, the longest on record. It will also release a raft of economic data on anything from jobs to industrial production, which could inject some volatility into markets.
Sector-wise, Nifty IT emerged as the top performer, gaining 1.26%, followed by Nifty Auto, Nifty Metal, and Nifty Oil & Gas, which advanced between 0.60% and 1%. On the losing side, Nifty PSU Bank was the top laggard, slipping 0.43%.
(more to come)