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.
The market momentum was largely favorable, with 1,345 stocks trading in green and 876 in red on the National Stock Exchange (NSE).
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.
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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.
In the Sensex pack:
Asian markets showed a mixed trend:
Meanwhile, US markets closed in the red during the previous trading session, indicating cautious investor sentiment globally.
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.
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.
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