Stock market update 29 November: Nifty reclaims 20000 level
There was a rise in the stock market today. Along with this, a new record was also created in the market today. On Wednesday, major stock index Sensex jumped 727 points while Nifty closed above 20,000 points due to continued inflow of foreign funds along with buying in big stocks like HDFC Bank. Wednesday was also special for Indian equities in the sense that the combined market cap of all the companies listed on BSE reached the level of US $ 4 trillion for the first time.
BSE’s 30-share index Sensex rose 727.71 points or 1.10 percent to close at 66,901.91 points. At one time during trading, it jumped by 772.08 points to reach 66,946.28 points. National Stock Exchange (NSE) index Nifty also rose by 206.90 points or 1.04 percent and closed at 20,096.60 points. Among Sensex companies, significant gains were recorded in Axis Bank, Mahindra & Mahindra, Wipro, Tata Motors, HDFC Bank, Tech Mahindra, ICICI Bank, JSW Steel, Tata Consultancy Services, Infosys, HCL Technologies and Bharti Airtel.
On the other hand, shares of Nestle, Titan, Bajaj Finserv and UltraTech Cement declined. In other Asian markets, South Korea’s Kospi, China’s Shanghai Composite, Japan’s Nikkei and Hong Kong’s Hang Seng closed with losses. European markets were trading with gains. American markets closed with slight gains on Tuesday.
According to stock market data, foreign institutional investors (FIIs) had made net purchase of shares worth Rs 783.82 crore on Tuesday. Global oil benchmark Brent crude rose 0.54 percent to US $ 82.12 per barrel. On Tuesday, the Sensex had risen 204.16 points and closed at 66,174.20, while the Nifty had risen 95 points at 19,889.70.
