Share Market Today: The Indian stock market benchmark indices, Sensex and Nifty 50, are trading in green on Monday, November 25, 2024. The Sensex (index with top 30 firms) surged 1,355.97 points to 80,473.08 on Monday. Meanwhile, Nifty50 (index with top 50 firms) also rose 444.3 points to 24,351.55 points during the intraday trade.
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. 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.
Share Market Today: What’s Driving The Surge?
Maharashtra Assembly Elections: The BJP-led National Democratic Alliance’s (NDA) landslide victory in the Maharashtra elections has given a significant boost to market confidence. Securing 236 seats out of 288 in the state, the NDA’s win 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 pressure last week following bribery and fraud allegations by US authorities. The conglomerate called these allegations as “baseless”, following which the shares have regained momentum, contributing to the broader 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.
