The Indian stock market witnessed healthy across-the-board buying on Monday, November 17, defying weak global cues, as healthy Q2 earnings, prospects of an India-US trade deal underpinned market sentiment.
Extending gains to the sixth consecutive session, the Sensex closed at 84,950.95, rising 388 points, or 0.46 per cent, while the Nifty 50 settled with a gain of 103 points, or 0.40 per cent, at 26,013.45.
The BSE Midcap index jumped 0.66 per cent, while the Smallcap index rose by 0.61 per cent.
Investors got richer by more than ₹3 lakh crore in a single session as the overall market capitalisation of BSE-listed firms rose to over ₹477 lakh crore from ₹474 lakh crore in the previous session.
In six sessions, the Sensex and the Nifty 50 have risen by 2 per cent each.
Indian stock market: 10 key highlights from the day
1. What drove the Indian stock market higher?
The Indian stock market posted gains, in sharp contrast to major global markets in Asia and Europe, which were in the red largely due to profit-booking in tech stocks and the absence of fresh triggers.
The domestic market is witnessing positive momentum on better-than-expected Q2 earnings and India’s healthy growth outlook.
According to , India’s economy will grow by 7 per cent in 2025 and will expand at a steady 6.5 per cent pace through 2027.
Moreover, expectations that an India-US trade deal could be announced by the end of this month are also supporting the market.
“The market has maintained its positive momentum, hovering near the key psychological level of 26,000, as investors anticipate a strong catalyst for further upward movement. A potential trade deal remains a crucial trigger that participants are closely monitoring,” said Vinod Nair, Head of Research, Geojit Investments.
“Currently, the risk-reward ratio is largely favourable, bolstered by stronger-than-expected Q2 earnings from midcaps, which have reinforced confidence in growth revival and point to potential future earnings upgrades,” said Nair.
(This is a developing story. Please check back for fresh updates.)
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