Share Market Today: The Indian stock market benchmark indices, Sensex and Nifty 50, settled down in green on Wednesday, November 27, 2024. The Sensex (index with top 30 firms) surged 230.02 points to settle at 80,234.08 on Wednesday. Nifty50 (index with top 50 firms) also rose 80.40 points to settle at 24,274.90 points.
Additionally, foreign investors withdrew an amount of Rs 15,845 crore from Indian equities in November, as of now. These investors had pulled out Rs 94,017 crore from Indian stock market in October 2024.
Sensex and Nifty 50, settled down in red on Tuesday, November 26, 2024 as well. The Sensex tumbled 105.79 points to settle at 80,004.06 on Tuesday. Nifty50 was also down 27.40 points to settle at 24,194.50 points.
Adani Ports, NTPC, HDFC Bank, and Bajaj Finance were among the top gainers among the Sensex-listed companies. Titan, Indusind Bank, and SBI were the top losers among the Sensex-packed stocks.
Share Market Today: What Drove the Rally?
Maharashtra Assembly Elections: The BJP-led National Democratic Alliance’s (NDA) landslide victory in the Maharashtra elections boosted up the market confidence. Additionally, there is now a sort of certainty regarding the CM face. The NDA secured 236 seats out of 288 in the state, which is seen as a positive development by investors, who view it as a sign of political stability.
Adani Group Stocks: Adani Group stocks have bounced back after facing significant downfall last week following bribery and fraud allegations by US authorities. The Group called these allegations as “baseless”, following which the shares have regained momentum, contributing to the market upswing. Gautam Adani, his nephew Sagar Adani, and senior executive Vneet Jaain have been cleared of bribery charges by the US Department of Justice (DoJ), claimed a recent filing by Adani Green Energy Ltd. (AGEL).
Foreign Capital: Foreign investors withdrew an amount of Rs 15,845 crore from Indian equities in November. However, their outflow has been limited now, showing the ease in the stock market.
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