Stock market bounces back after 2 days fall, Sensex gains 276 pts, Nifty around 19,800

Ira Singh
Khabar Khabaron Ki,21 Nov’23

The Indian equity benchmark indices rose on Tuesday, led by a rebound in financials after a two-session lull, while information technology (IT) stocks extended gains amid a global stock rally on expectations that U.S. interest rates have peaked.

At close, the Sensex was up 275.62 points or 0.42 percent at 65,930.77, and the Nifty was up 89.40 points or 0.45 percent at 19,783.40.

Stocks and Sectors

SBI Life Insurance, HDFC Life, Adani Enterprises, Hindalco Industries and JSW Steel were the biggest gainers on the Nifty, while losers included Coal India, ONGC, BPCL, Tech Mahindra and LTIMindtree.

On the sectoral front, pharma, realty, and metal up 1 percent each, while oil & gas and capital goods down 0.5 percent each. BSE Midcap and Smallcap indices ended marginally higher.

On 21 Nov’23,the Indian rupee recovered from its all-time low level and settled 4 paise higher at 83.34 against the US dollar on Tuesday, tracking the weakness of the American currency in the overseas market and positive domestic equities.

Forex traders said the rupee traded in a narrow range as dollar demand from oil marketing companies and sustained foreign fund outflows weighed on investor sentiments.

Experts Take:
Market experts have recommended six stocks to buy for Tuesday-Tata Communications, Metropolis Healthcare, MFSL, Torrent Pharma, Vesuvius India, KPR Mill