Market Wrap, Nov 24: Here's all that happened in the markets today
Continuing their gaining streak, the benchmark indices ended 1 per cent higher on Tuesday amid across-the-board buying. The S&P BSE Sensex rallied 446 points, or 1 per cent to settle at a fresh closing high of 44,523 levels. During the day, the index hit a high of 44,601.63 levels. On similar lines, NSE's Nifty breached the psychological level of 13,000 to settle at 13,055, up 129 points, or 1 per cent. Volatility index, India VIX, gained over a per cent to 21.05 levels. HDFC Bank, ICICI Bank, Axis Bank, and Reliance Industries (RIL) were the major contributors to the Sensex's gain today. Axis Bank (up 4 per cent) was the biggest gainer on the index while HDFC (down nearly 1.5 per cent) was the top loser. In the broader market, the S&P BSE MidCap index ended 0.58 per cent higher at 16,739 levels while the S&P BSE SmallCap index gained 0.89 per cent to 16,550 points. On the NSE, all the sectoral indices ended in the green. Nifty Bank surged 713 points, or 2.46 per cent to 29,737 levels. Among buzzing stocks, shares of Adani Ports and Special Economic Zone (APSEZ) jumped 7 per cent to Rs 401.85 on the BSE in the intra-day trade after the company said it ranked 14th in the transportation and transportation infrastructure sector of Dow Jones Sustainability Emerging Markets Index, 2020. APSEZ is the only company from India to have been included in this sector. The stock ended at Rs 392, up 4.6 per cent. Shares of Granules India hit a record high of Rs 420 on the BSE on the back of heavy volumes. The pharmaceutical company's stock surpassed its previous high of Rs 406.90, touched on September 29, 2020. Meanwhile, the National Stock Exchange (NSE) has declared Karvy Stock Broking as a defaulter for non-compliance with the regulatory provisions of the bourse. In addition, Karvy Stock Broking has been expelled from the membership of the exchange, the NSE said in a circular. Now, a look at the global markets. Stocks gained on Tuesday as the formal go-ahead for US President-elect Joe Biden to begin his transition added to an already brighter mood from progress made on Covid-19 vaccines and the prospects for a speedy global economic revival. European markets appeared set to extend optimism in Asian and US equities, with Euro Stoxx 50 futures and FTSE futures up 0.52 per cent and 0.42 per cent, respectively. China stocks, however, closed lower as investors booked profits following recent strong gains. In commodities, Brent crude prices hit their highest levels since March while gold hit a four-month low as investors deserted the safe-haven metal on hopes for the vaccine.