Indian stock market today 20th November 2024 Update
Markets will be closed today for Maharashtra assembly elections. Investors will return to the market the next day with new expectations. An exciting turn in yesterday’s stock market! After seven days of bearishness, investors finally breathed a sigh of relief. India’s stock market rallied slightly yesterday, with some big shares in the banking, IT, and car manufacturing sectors playing a major role.
Indian stock market today: Touch of new life in Sensex
The BSE Sensex rose 239.37 points to close at 77,578.38 yesterday in the Mumbai market. The index rose to 78,451.65 during the day, giving investors some hope. But, due to last minute selling pressure on Reliance Industries, the profit figure could not be bigger.
Nifty’s seven-day war ends
Meanwhile, the NSE Nifty rebounded today after seven straight days of decline. The 50-share index added 64.70 points to end the day at 23,518.50. The Nifty once touched 23,780 during the day, boosting investor sentiment.
Crisis of the week and hope of today
In the last seven days, stock market conditions were disappointing. The Nifty lost over 1,030 points or 4.3 percent. The Sensex also fell by over 3,000 points during this period. Continued selling by foreign investors, disappointing second-quarter earnings and higher US bond yields—these three factors kept the market under control.
Read Also: Indian stock market today 19th November 2024 Update
Expert opinion
According to Vinod Nair, head of research at Geojit Financial Services, there is still caution among investors.. Weaker earnings and selling pressure from foreign investors are keeping the market from going aggressive at the moment. Also, with the Maharashtra elections, the gains are also ahead.” There seems to be a pullback trend.”
But he also thinks the market’s decline is pointing to some price correction. Incomes are expected to pick up in the second half due to state and central spending, which could strengthen the market again.
Market statistics
There has been enthusiasm among investors to buy gotokal shares. Midcap and smallcap indices rose 0.94% and 0.90% respectively. Sector wise sectors such as real estate, automobile, consumer services and healthcare have done well. However, the metals, oil and energy sectors lagged behind.
Global market conditions
Asian stock markets (Seoul, Tokyo, Shanghai and Hong Kong) showed green signals. But European markets were slightly lower, while US markets closed mixed on Monday.
Yesterday was undoubtedly a day of relief. But how long this relief will last, only time will tell.
