Sensex, Nifty bounce back in early trade after sharp fall in previous session
The Hindu
Sensex and Nifty rebound in early trade driven by value buying, bank stock rally, and positive global cues.
Benchmark equity indices Sensex and Nifty bounced back in early trade on Friday (November 22, 2024) after falling sharply in the previous session driven by value buying at lower levels and a rally in blue-chip bank stocks.
Buying by domestic institutional investors and firm trends in U.S. markets also added to the recovery in domestic equities. The BSE benchmark Sensex jumped 506.58 points to 77,662.37 in early trade. The NSE Nifty climbed 162.9 points to 23,512.80.
From the 30-share Sensex pack, State Bank of India, ICICI Bank, IndusInd Bank, Tata Motors, Power Grid, Bajaj Finance, Bajaj Finserv and Tech Mahindra were the biggest gainers.
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Adani Ports, Axis Bank, Mahindra & Mahindra, Titan and Sun Pharma were the major laggards. Eight of the ten listed Adani group firms were trading lower during the morning trade, extending their previous day's fall, after billionaire industrialist Gautam Adani was charged in the US for alleged bribery and fraud.
Foreign Institutional Investors (FIIs) offloaded equities worth ₹5,320.68 crore on Thursday (November 21, 2024), while Domestic Institutional Investors (DIIs) bought shares worth ₹4,200.16 crore, according to exchange data.
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