Sensex rises 513 points, Nifty 50 ends above 26,050— 10 key highlights from the Indian stock market today

Frontline indices the Sensex and the Nifty 50 resumed their upward march on Wednesday, November 19, with gains led by select IT and banking heavyweights amid mixed global cues.

The Sensex closed at 85,186.47, rising 513 points, or 0.61%, while the Nifty 50 clocked a gain of 143 points, or 0.55%, to settle at 26,052.65. The mid and small-cap segments ended mixed; the BSE Midcap index rose 0.34%, while the Smallcap index fell 0.39%.

The overall market capitalisation of BSE-listed firms rose to ₹475.6 lakh crore from ₹474.6 lakh crore in the previous session, making investors richer by about ₹1 lakh crore in a single session.

Indian stock market: 10 key highlights from the day

1. What drove the Indian stock market higher?

Market benchmarks rose amid growing optimism over a potential India-US trade deal. Commerce and Industry Minister Piyush Goyal on Tuesday signalled that a deal between the two countries could be reached soon, stating that the India-US partnership remains strong and is expanding across various sectors.

Goyal stated that negotiations were progressing and that India would only sign an agreement that is fair, balanced, and protects national interests.

"National indices staged a strong rebound on renewed optimism over an India–US trade deal, following encouraging comments from the Union Commerce Minister. Large caps led the gains, outperforming the broader market," said Vinod Nair, Head of Research, Geojit Investments Limited.

The banking and IT majors led the gains. Infosys, ICICI Bank, HCL Tech, and TCS were the two contributors to the gains in the Sensex index.

"The IT sector rallied on revived hopes of a Fed rate cut, supported by soft US labour data and currency tailwinds, while PSU banks gained on merger-related news and improving fundamentals. Attention now turns to tomorrow’s FOMC minutes for further policy signals," Nair said.

2. Top gainers in the Nifty 50 index today

Shares of Max Healthcare Institute (up 4.30 per cent), HCL Technologies (up 4.19 per cent), and Infosys (up 3.74 per cent) ended as the top gainers in the Nifty 50 index. As many as 31 stocks ended higher in the Nifty 50 index.

3. Top losers in the Nifty 50 index

Shares of Tata Motors Passenger Vehicles (down 2.77 per cent), Coal India (down 1.21 per cent), and Maruti Suzuki India (down 1.19 per cent) ended as the top losers in the index.

4. Sectoral indices today

Nifty IT jumped 2.97 per cent, ending as the top gainer among sectoral indices. Nifty PSU Bank rose 1.16 per cent. Nifty Bank rose 0.54 per cent to end at 59,216.05.

5. Most active stocks in terms of volume

Jaiprakash Power Ventures (65.24 crore shares), Vodafone Idea (62.83 crore shares), and The South Indian Bank (16 crore shares) were the most active stocks in terms of volume on the NSE.

6. 10 stocks jump more than 15% on BSE

Jaiprakash Power Ventures, Securekloud Technologies, Sambhaav Media, Venus Remedies, and Generic Engineering Construction were among the 10 stocks that surged over 15 per cent on the BSE.

7. Advance-decline ratio

Out of 4,346 stocks traded on the BSE, 1,841 advanced, while 2,338 declined. Some 167 stocks remained unchanged.

8. Over 120 stocks hit 52-week highs

Bharti Airtel, SBI, PNB, Bank of Baroda, Titan, Hero MotoCorp, Federal Bank, Canara Bank, were among the 123 stocks that hit their 52-week highs in intraday trade on the BSE.

9. Over 200 stocks hit 52-week lows

Godrej Agrovet, Westlife Foodworld, Vedant Fashions, UBL, and Thermax were among the 205 stocks that hit their 52-week lows in intraday trade on the BSE.

10. Nifty's technical outlook

According to Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities, the 26,100–26,150 zone is expected to act as a crucial resistance.

"A sustained move above 26,150 could drive the index towards 26,350. On the downside, the zone of 25,850-25,800 is expected to act as a strong support for the index," said Shah.

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Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.