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Dalal Street Roars Back: Bulls Reclaim Market!
26 Nov
Summary
- Benchmark indices Sensex and Nifty surged nearly 1% on Wednesday.
- Broad-based buying across large, mid, and small-cap stocks fueled the rally.
- Declining crude oil prices and foreign investor buying supported market gains.
Indian equity markets experienced a strong rebound on Wednesday, with both the S&P BSE Sensex and NSE Nifty50 indices climbing by nearly 1%. This surge marked an end to a three-day losing streak, driven by widespread buying across large, mid, and small-cap segments. The positive sentiment was amplified by favorable global market performance and indications of a potential US Federal Reserve rate cut.
The market rally was further supported by declining crude oil prices and consistent buying from foreign institutional investors. Hopes for a US rate cut increased following weaker-than-expected US retail sales data and softening consumer confidence. This economic outlook enhances the attractiveness of emerging markets like India for foreign capital, boosting investor confidence on Dalal Street.
Nearly all sectoral indices were in the green, with notable gains in Metal, PSU Bank, and Consumer Durables. Adani Ports, Axis Bank, and Trent were among the top early gainers. The drop in crude oil prices, influenced by potential diplomatic resolutions in the Ukraine conflict, reduced input costs for domestic companies and eased inflation concerns, contributing to the overall positive market environment.
