Share Market Today: The Indian stock market benchmark indices, Sensex and Nifty 50, settled down in red on Tuesday, November 26, 2024. However, the settled above the 80,000 mark. The Sensex (index with top 30 firms) tumbled 105.79 points to settle at 80,004.06 on Tuesday. Nifty50 (index with top 50 firms) was also down 27.40 points to settle at 24,194.50 points.
Additionally, foreign investors withdrew a substantial amount of Rs 25,460 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 Monday, November 25, 2024. The Sensex surged 992.74 points to settle at 80,109.85, whereas the Nifty50 also rose 379.65 points to settle at 24,286.90 points.
Asian Paints, Infosys, JSW Steel, TCS, Reliance Industries, Tata Steel, Titan, and Tech Mahindra were among the top gainers among the Sensex-listed companies. Adani Ports, UltraTech Cement, and Sunpharma were the top losers among the Sensex-packed stocks.
Share Market Today: What Drove the Decline?
Adani Group Stocks: Few Adani Group stocks were down today. This was due to the bribery and fraud allegations made by US authorities last week. However, The Group called these allegations as “baseless”, following which the shares had regained momentum, contributing to the market upswing on Monday.
Investor Worries About Disappointing Second-quarter Financial Results: The Q2 earnings report revealed significantly weaker-than-expected results, with the majority of companies’ July-September quarter numbers falling short of market expectations.
Rising Geopolitical Tensions: The Russia-Ukraine conflict just took a concerning turn, affecting market sentiment. Russian President Vladimir Putin has signed a revised nuclear doctrine, escalating tensions.
Foreign Capital Outflow: Foreign portfolio investors (FPIs) have been consistently offloading Indian equities, contributing significantly to the recent market decline.
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