Stock Market News: Sensex Gains Nearly 600 Points, Nifty Closes Above 25,800 As Bihar Exit Polls, Trade Talks And Other Factors Lift Sentiment

Stock Market News: The benchmark indices extended gains on November 12 as the Nifty 50 closed at 25,875.8 up by 180.85 points or 0.7 per cent. The 30-share Sensex closed at 84,466.51 up by 595.19 points or 0.71 per cent.

Earlier today the Sensex climbed 0.93 per cent to an intraday high 84,652.01 levels. The Nifty 50 also surged 0.93 per cent to an intraday high of 25934.55 levels. The gains made by the headline indices came amid strong domestic and global cues such as the results of the exit polls favouring the NDA in the Bihar election, suggesting political stability, optimism regarding a potential India-U.S. trade deal and strong corporate earnings.

Asian Paints, Adani Enterprises and Tech Mahindra Lead Gainers

Shares of Asian Paints and Adani Enterprises emerged as top-gainers among constituents of the Nifty 50 as they closed higher by 6.58 per cent and 5 per cent respectively on the NSE. IT stocks also gained significantly today with Tech Mahindra Ltd and Tata Consultancy Services Ltd finishing the session with gains of 3.48 per cent and 2.46 per cent respectively.

Nifty IT and Nifty Auto Rally

Sectoral indices rallied on November 12 with Nifty IT and Nifty Auto emerging as top gainers. Nifty IT index and Nifty Auto closed higher by 2.04 per cent and 1.24 per cent respectively. The Nifty SmallCap 100 and the Nifty MidCap 100 also finished the session with gains of 0.79 per cent and 0.82 per cent respectively.

Global Markets On November 12

On November 12, most Asian indices finished the session with gains. Japan’s Nikkei 225 closed with gains of 0.33 per cent, Hang Seng closed with gains of 0.86 per cent and the KOSPI finished with gains of 1.06 per cent. However, the Shanghai Composite finished the session with losses of 0.07 per cent.

Primary Market Action

Shares of Billionbrains Garage Ventures Ltd (Groww) made a strong market debut on the NSE and BSE. On the other hand shares of Shreeji Global FMCG Ltd also listed on the NSE SME platform. The share allotment status of Pine Labs Ltd will be finalised today. Tenneco Clean Air India IPO bidding window opened for subscription today.

Market Outlook

In the upcoming sessions of the week, domestic factors such as the publication of results from companies along with global developments such as the progress in the signing of a trade deal are expected to impact investor sentiment and trading activity.