FIRST TRADE: Sensex up 260 pts; Nifty above 19,900; all sectoral indices in green
Stock market today: Last seen, the S&P BSE Sensex was up 236.74 points, or 0.36 per cent, at 64,410.94, and the NSE Nifty was up 76.9 points, or 0.39 per cent, at 19,966.6.
![FIRST TRADE: Sensex up 260 pts; Nifty above 19,900; all sectoral indices in green](https://cdn.zeebiz.com/sites/default/files/2023/11/29/270642-99104547.jpg?im=FitAndFill=(1200,900))
Stock market today: Domestic equities on Wednesday, November 29, edged higher amid broad-based buying and tracking a rise in Asian and US peers after dovish commentary from a US Federal Reserve official elevated bets of rate cuts by as early as March 2024.
Last seen, the S&P BSE Sensex was up 236.74 points, or 0.36 per cent, at 64,410.94, and the NSE Nifty was up 76.9 points, or 0.39 per cent, at 19,966.6.
Nifty Mid Cap 100 and Small Cap 100 were up over half a per cent.
High-beta Nifty Bank was up 0.40 per cent at 44,056.25.
"Since the global market backdrop continues to be favourable, the rally in India is likely to continue. The drop in the US 10-year bond yield to 4.3 per cent and the dollar index dropping below 103 are positive for equity markets. FIIs have turned buyers responding to the changed reality," said Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Vijayakumar added that a big move in the market is likely after the state election results are known. Perhaps the exit polls tomorrow evening will provide some clues.
BUZZING STOCKS
Aster DM Healthcare shares were up over 10 per cent after the company's board, along with its subsidiary, gave their go-ahead to segregate the company's India and GCC (Gulf Cooperation Council) businesses.
PCBL shares were up over 4 per cent after the company acquired a 100 per cent stake in Aquapharm Chemicals Private Limited in a deal valued at Rs 3,800 crore.
BHEL shares were up over 2 per cent after the Ministry of Defence (MoD) inked a contract worth Rs 2,957 crore with the company.
Tata Power shares were up over 1 per cent after the company received a contract from SJVN to develop a 200 MW renewable energy project.
Orchid Pharma shares were up over 2 per cent after the company's promoter sold 13 lakh shares, aggregating to 2.56 per cent equity in the company at Rs 571.28 per share.
Zomato shares were up over 3 per cent after a block deal.
Nifty Auto was up 0.42 per cent after FADA released data on festive season sales.
GLOBAL MARKETS
Asian stocks briefly made one-week highs on Wednesday, bonds rallied and the dollar sank on new hints at U.S. interest rate cuts, while the New Zealand dollar jumped after its central bank said another hike may be necessary if inflation proves stubborn.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.5 per cent in early trade before weakness in Hong Kong tech shares dragged it back to flat.
(With agency inputs)
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