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Indian Markets Stage Remarkable Recovery
12 Nov
Summary
- Sensex gained 772.75 points, closing at 81,879.40.
- Nifty finished at 25,255.05, an increase of 210.40 points.
- Banking and auto sectors led the market's late recovery.
Indian domestic equity markets ended Wednesday's trading session with significant gains after recovering from an earlier sharp correction. The Sensex closed at 81,879.40, marking a rise of 772.75 points or 0.95%, and the Nifty finished at 25,255.05, up 210.40 points or 0.84%.
Initial trading saw the Sensex surge over 1,100 points and the Nifty breach the 25,300 mark. However, profit-taking at higher levels led to a significant intraday dip. A late recovery was driven by strong buying in banking, automobile, and other key sectors.
The Nifty Auto index was a top performer, advancing 2.14%, alongside surges in PSU Bank and Bank indices. Broader market indices also closed higher, with small-cap stocks outperforming the main benchmarks.
Despite the positive close, the India VIX rose 0.86% to 17.57, indicating persistent market uncertainty. Factors influencing the market included positive global cues, hawkish remarks from Fed officials, and sustained foreign inflows supporting the rupee, though IT stocks were impacted by expectations of higher interest rates.
