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Indian Markets Hit Record Highs Amidst Global Cues
27 Nov
Summary
- Sensex and Nifty touched fresh record highs, extending gains for second day.
- Mid-cap and small-cap stocks remained in a fragile zone.
- IMF projects India's FY26 growth at 6.6%, citing strong GST reforms.
Indian equity benchmarks, the Sensex and Nifty, concluded with modest gains, extending their upward trend for a second session. Both indices reached fresh all-time highs during trading before paring some gains by the close. Strength in banking and financial stocks, including Bajaj Finance, ICICI Bank, and HDFC Bank, provided significant support to the market's advance.
Conversely, the broader market showed weakness, with the S&P BSE Mid-Cap and Small-Cap indices experiencing declines. Investors are closely monitoring upcoming domestic GDP data, trade discussions between the US and India, and the Reserve Bank of India's policy meeting, all crucial factors for near-term market sentiment. The market breadth on the BSE was negative, indicating more declining stocks than advancing ones.
The International Monetary Fund (IMF) has projected India's economic growth at 6.6% for the fiscal year 2025-26, attributing this forecast to strong Goods and Services Tax (GST) reforms. The IMF also noted that India's aspiration to become an advanced economy hinges on continued structural reforms aimed at boosting long-term growth potential.
