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Volume IconMarket Wrap, Nov 26: Here's all that happened in the markets today

BSE Sensex surged 432 points, or 0.98 per cent to settle at 44,260 levels and the Nifty50 index gained 129 points, or 1 per cent to 12,987

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Bull Markets

Staging a smart recovery, the domestic equity market ended around 1 per cent higher on Thursday, the last day of the futures and options (F&O) contracts for the November series, amid broad-based buying.
 
The S&P BSE Sensex surged 432 points, or 0.98 per cent to settle at 44,260 levels and the Nifty50 index gained 129 points, or 1 per cent to 12,987. India VIX, meanwhile, dropped nearly 13.5 per cent to 20 levels.
 

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Sectorally, all the indices ended in the green with Nifty Metal index rising the most - up 3.85 per cent to 2,925 points.
Broader market, too, participated in the rally. The S&P BSE MidCap index jumped 0.94 per cent to 16,598 levels while the S&P BSE SmallCap index rose 0.71 per cent to 16,480 levels.
 
Among buzzing stocks, shares of steel companies continued their northward movement with sector giants such as Tata Steel and JSW Steel hitting their respective 52-week highs.
 
Sugar stocks, too, rallied in the trade.
 
Shares of Dixon Technologies (India), meanwhile, hit a new high on the BSE. The stock gained for the fifth straight day. It ended at Rs 11,436.
 
In a separate development, Vedanta Resources Ltd. has begun sounding out debt holders about the possibility of extending maturities on some of its dollar bonds to reduce refinancing pressures. The mining giant started approaching the investors to discuss possible debt extensions after the company’s failed attempt to delist its India unit, Vedanta Ltd., Bloomberg reported quoting sources.
 
Global markets
 
European shares were mixed on Thursday and world shares held near all-time highs after a strong Asian session in which market euphoria around Covid-19 vaccines, Joe Biden’s US presidential election win and hopes for further stimulus outweighed worsening US data.
 
In Asia, China’s main stock indexes ended higher, rebounding from two days of losses as gains in financial and consumer shares offset drops in health care, tech and new energy vehicle firms.
 
Oil prices rose for a fifth day on Thursday after a surprise fall in US crude inventories gave further legs to a rally driven by optimism that vaccines will end the coronavirus pandemic and revive demand for fuels.
Topics :MARKET WRAP

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First Published: Nov 26 2020 | 4:58 PM IST

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