Business

Indian Stock Market Opens In Green Amid Positive Sentiment

The Indian stock market started on a strong note on Friday, with early buying observed in the Media and Pharma sectors. By 9:44 a.m., the Sensex rose 325.83 points (0.41%) to trade at 79,369.57, while the Nifty climbed 104.85 points (0.44%) to 24,019, signaling a positive trend.

Broad Market Performance

The market momentum was largely favorable, with 1,345 stocks trading in green and 876 in red on the National Stock Exchange (NSE).

  • Nifty Bank: Up by 224.45 points (0.43%) at 52,131.30
  • Nifty Midcap 100: Gained 97.20 points (0.17%) to trade at 56,397.95
  • Nifty Smallcap 100: Rose by 73.85 points (0.40%) to 18,585.40

Expert Opinions And Strategies

Market experts advised investors to exercise caution. “It is better to wait and watch, as stock-specific actions are expected following the inclusion of 45 new stocks in the Futures and Options (F&O) list,” analysts said.

Also Read: After Many Decades, Delhi Now Understands Economics Under PM Modi: Jim Rogers

While a “buy on dips” strategy may not yield short-term gains, experts suggested it could benefit investors with medium to long-term horizons. They recommended accumulating large-cap stocks in financials, IT, capital goods, and telecom sectors for sustainable growth.

Top Gainers And Losers

In the Sensex pack:

  • Top Gainers: Sun Pharma, Adani Ports, M&M, Bharti Airtel, L&T, Bajaj Finance, Titan, and HCL Tech.
  • Top Losers: Power Grid, ITC, TCS, Maruti, Tata Steel, and Tech Mahindra.

Asian And Global Market Trends

Asian markets showed a mixed trend:

  • In Green: China and Hong Kong
  • In Red: Bangkok, Jakarta, Seoul, and Japan

Meanwhile, US markets closed in the red during the previous trading session, indicating cautious investor sentiment globally.

Technical Insights

Mandar Bhojane, Research Analyst at Choice Broking, highlighted a bearish candle formation in the Nifty 50 daily chart, signaling profit booking after a recent pullback.

  • Support Levels: Immediate support is at 23,800 and 23,680, aligning with Fibonacci levels. These zones could offer buying opportunities upon confirmation by price action.
  • Resistance Levels: Immediate resistance is at 24,350. Sustained movement above this level could push the index toward 24,800 and 25,000, unlocking significant upside potential.

Institutional Activity

Foreign Institutional Investors (FIIs) were net sellers, offloading equities worth ₹11,756 crore on November 28. On the other hand, Domestic Institutional Investors (DIIs) were net buyers, acquiring equities worth ₹8,718 crore, reflecting divergent investment trends.

Richa Kaushik

Recent Posts

Gautam Adani Hails Puri Lifeguards As Unsung Heroes During Rath Yatra Visit

Gautam Adani, Chairman of the Adani Group, visited Puri in Odisha during the annual Rath…

1 hour ago

Acharya Pramod Krishnam Slams Congress Over ‘Internal Emergency’ Allegation

Acharya Pramod Krishnam, stirred political debate by claiming an 'internal emergency' still exists within the…

2 hours ago

MRM Meeting: Pledge for Global Peace, Green India, De-addiction & Democratic Integrity

Taking a crucial step toward positive transformation, social reform, and global peace, the Muslim Rashtriya…

2 hours ago

India To Host 2029 World Police & Fire Games; Amit Shah Hails Global Recognition

India has been chosen to host the prestigious 2029 World Police and Fire Games in…

2 hours ago

Seeing The Lord Among Devotees Is The Pinnacle Of Humility: Gautam Adani At Rath Yatra

Gautam Adani, along with his wife and Karan, participated in the Rath Yatra in Puri,…

5 hours ago

PM Modi Interacts With Group Captain Shubhanshu Shukla Aboard The ISS

PM Narendra Modi interacted with Group Captain Shubhanshu Shukla, the first Indian to reach the…

6 hours ago