Share Market Today: The Indian stock market benchmark indices, Sensex and Nifty 50, settled down in green on Monday, November 25, 2024. The Sensex (index with top 30 firms) surged 992.74 points to settle at 80,109.85 on Monday. Nifty50 (index with top 50 firms) also rose 379.65 points to settle at 24,286.90 points.

Additionally, foreign investors withdrew a substantial amount of Rs 26,533 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 green on Friday, November 22, 2024 as well. The Sensex surged 1961.32 points to settle at 79,117.11, whereas the Nifty50 also rose 557.35 points to settle at 23,907.25 points.

Larsen & Turbo (L&T), SBI, Adani Ports, HDFC Bank, ICICI Bank, and Powergrid were among the top gainers among the Sensex-listed companies. JSW Steel, Tech Mahindra, and Asian Paints 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. 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.

Global Cues: The rally received additional support from global markets, as most Asian indices posted gains. Japan’s Nikkei index climbed 1.17%, while South Korea’s Kospi index advanced 1.44%, contributing to the positive sentiment. Indian markets often mirror positive global trends, and today followed suit.

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