Sensex Settles 446 Points Higher, Nifty 50 Ends Close To All-Time High, Index Heavyweights Lead Gains

Domestic equities' benchmark indices extended gains from the previous session to close near new all-time highs on November 20, led by index heavyweights. Investor sentiment improved after signs of progress in phase 1 of the India–US trade deal and strong quarterly results from chipmaker Nvidia, which lifted global technology stocks and supported markets across Asia, including India.

Sensex surged 615.23 points to hit a new 52-week high of 85,801.70 before closing at 85,632.68, with gains of 446.21 points, or 0.52 per cent. Likewise, Nifty 50 surged 194 points to log its 52-week high at 26,246.65, before closing at 26,192.15, with gains of 139.50 points, or 0.54 per cent.

Broader market indices underperformed benchmarks, as Nifty Midcap 100 and Nifty Smallcap 100 closed nearly flat. However, Nifty 500, which represents more than 92 per cent of the free-float market cap of all NSE-listed stocks, closed higher by 0.29 per cent.

Financial Services, Auto Lead Gains

On the sectoral front, financial services, auto, and oil & gas sectors led the gains, while PSU Bank, Pharma, healthcare, realty, and consumer durables closed in the red. Nifty Financial Services gained 0.79 per cent, and Nifty Auto closed 0.44 per cent higher, emerging as the top sectoral gainer during the session.

Nifty Bank advanced 0.22 per cent to close at 59,347.70, extending gains for the second straight session.

Nifty IT gained in the initial hours of trade, led by strong results from global chip-making giant Nvidia; however, it failed to hold on to gains and slipped to close flat.

Nifty 50: Top Gainers & Losers

Within Nifty 50 constituents, Eicher Motors gained 3.31 per cent, Bajaj Finance and Bajaj Finserv advanced 2.30 per cent each, and Reliance Industries jumped 2.01 per cent, emerging as the top gainers of the day. Tech Mahindra, Jio Financial Services, HDFC Bank, SBI Life Insurance, Axis Bank, Hindalco, and Bajaj Auto were also among the top gainers.

On the other hand, Asian Paints, HCL Technologies, Titan, Hindustan Unilever, ONGC, and Tata Steel were the top losers, losing between 0.50 per cent and 1.20 per cent.

Stock Market Outlook

Several important US economic indicators are scheduled for release today and tomorrow, November 21. Existing home sales data will be announced on November 20, followed by manufacturing and services PMI data on November 21. These numbers could trigger some short-term market volatility.

Market participants will also be closely tracking any fresh updates on the India–US trade deal.