Market Wrap, November 23: Here's all that happened in the markets today
The benchmark indices ended around 0.5 per cent higher on Monday amid buying in Reliance Industries (RIL), and information technology counters such as Infosys, and Tata Consultancy Services (TCS). The S&P BSE Sensex gained 195 points, or 0.44 per cent to settle at 44,077 levels while NSE's Nifty ended at 12,926, up 67 points, or 0.52 per cent. During the day, the index hit a record high of 12,969 levels. Volatility index, India VIX, gained over 6 per cent to 20.8 levels. Market breadth remained in favour of advances as out of 3,013 companies traded on the BSE, 1,688 advanced, and 1,144 declined while 181 remained unchanged. Further, as many as 370 securities hit their respective upper circuits today while 190 hit their lower circuits. The broader market outperformed the headline indices. The S&P BSE MidCap index gained 1.25 per cent to 16,642 levels while the S&P BSE SmallCap index settled at 16,405, up 1.37 per cent. Among sectoral indices, Nifty IT gained the most - up nearly 3 per cent to 22,007 levels. Nifty Bank, on the other hand, slipped 0.72 per cent to 29,024 levels while Nifty Financial Service index fell over 1 per cent to 14,059 levels. Among buzzing stocks, shares of listed companies of Future group were locked in their respective upper circuit limits on the BSE after the Competition Commission of India (CCI) on Friday cleared Reliance Industries' (RIL) bid to buy Future group's retail, wholesale and logistics assets. RIL ended nearly 3 per cent higher at Rs 1,950.8. Banks, NBFC stocks rallied up to 20 per cent on the BSE during the day as the Reserve Bank of India's (RBI's) internal working group, which reviewed ownership guidelines, proposed sweeping changes in the corporate structure of Indian private sector banks. Now, let's take a look at the global markets. Shares and oil prices rose on Monday while the dollar fell as investors pinned hopes for economic revival on coronavirus vaccines, even as the world contended with surging case numbers and delays to fresh US stimulus. The STOXX index of Europe’s 600 largest shares rose 0.5 per cent to its highest since February after AstraZeneca become the latest major drugmaker to say its vaccine for the virus could be around 90 per cent effective. In commodities, oil prices rose more than 1 per cent, extending last week’s gains as traders eyed a recovery in demand due to successful coronavirus vaccine trials.