Indian stock market today: After three days of losses, bulls finally took back charge of Dalal Street in Wednesday’s session, November 26, powering the frontline indices to their biggest intraday jump in five months, which also pushed them very close to breaching their record highs.
The Nifty 50 closed the trade with a solid 1.23% spike at 26,203, breaking its 3-day losing streak, while the S&P BSE Sensex also scaled up 1.21% to end the session at 85,609 points. Today’s rally put both indices just 0.30% away from hitting their September 2024 peaks.
Mid- and small-cap stocks outperformed the frontline indices, with the Nifty Midcap 100 gaining 1.27% and the Nifty Smallcap 100 index zooming 1.36%.
Today’s rebound was largely led by the metals pack, triggered by a cool-down in the US Dollar Index as a string of weaker-than-expected US data strengthened expectations of a Federal Reserve rate cut in December.
Sector-wise, all major sectoral indices posted higher returns, with Nifty Metal standing out with a surge of 1.98%, followed by Nifty Consumer Durables, Nifty Oil & Gas, Nifty IT, Nifty Private Bank, Nifty Media, Nifty Pharma, Nifty Auto, and Nifty Realty — all ending with gains of over 1%.
(more to come)