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Indian Markets Hit 52-Week Highs on Nvidia Boost
20 Nov
Summary
- Indian equity indices reached 52-week highs, extending gains for a second day.
- Global markets improved following Nvidia's strong earnings report and FII inflows.
- Nifty closed above 26,150, with financial, energy, and auto sectors leading.
Indian equity benchmarks concluded with substantial gains, marking a second consecutive session of gains. A positive global sentiment, driven by Nvidia's robust earnings and consistent foreign institutional investor (FII) inflows, provided strong support for domestic markets. Although volatility increased due to the weekly expiry of derivatives, both the S&P BSE Sensex and Nifty 50 indices reached their 52-week highs during trading.
The Nifty 50 settled above the 26,150 level, with notable strength seen in the financial services, energy, and auto sectors. The S&P BSE Sensex advanced by 446.21 points to 85,632.68, while the Nifty 50 rose by 139.50 points to 26,192.15. Earlier in the day, the Nifty had touched a new 52-week high of 26,246.65, and the Sensex hit its peak at 85,801.70.
Broader market indices showed mixed performance, with the S&P BSE Mid-Cap index gaining 0.13% and the S&P BSE Small-Cap index declining by 0.17%. In the currency market, the Indian rupee weakened against the US dollar, trading at 88.7100. The NSE's India VIX, a volatility gauge, increased by 1.35% to 12.14.
