Ira Singh 
The domestic share markets bounced back from a muted start on Wednesday, with Nifty and Sensex gaining momentum as energy, auto, metal, and banking stocks outperformed. Adani Group stocks staged a stellar recovery, jumping up to 12%.At close, the Sensex was up 230.02 points or 0.29 percent at 80,234.08, and the Nifty was up 80.40 points or 0.34 percent at 24,274.90. About 2470 shares advanced, 1302 shares declined, and 105 shares unchanged.
Adani Enterprises, Adani Ports, Bharat Electronics, Trent and NTPC were the top gainers on the Nifty, while losers included Apollo Hospitals, Titan Company, Shriram Finance, Wipro and IndusInd Bank.Nifty Midcap index rose 0.6 percent and Nifty smallcap index added 1.3 percent.On the sectoral front, selling was seen in the IT, pharma, realty, healthcare, while buying was seen in the auto, bank, energy, FMCG, metal, and media names.
Rupee Close:
On 27 Nov'24,the Indian rupee declined sharply by 15 paise to close at 84.44 against the U.S. dollar on Wednesday amid uncertainties surrounding U.S. President-elect Donald Trump’s trade policies and an increase in crude oil prices.However, a strong show at the domestic equity markets, FII inflows along with a weakening dollar against major currencies supported the local unit at lower level, according to forex traders.
Trading Guide:
Vinod Nair, Head of Research, Geojit Financial Services reportedly quoted as saying,Indian indices continue to exhibit positive upside as a result of healthy consolidation and the likelihood of strong H2FY25 earnings forecasts. In Asia, market sentiment was mixed due to the potential tariff impositions by the US. Meanwhile, the Chinese market rebounded on expectations of additional stimulus measures. The global sentiment is positive as the US FOMC minutes and a truce in the Middle East were optimistic. Decelerating inflation and robust growth prospects could lead to continued rate cuts by the Federal Reserve.
Market experts have recommended five shares to buy-ADF Foods Ltd, Jagsonpal Pharmaceuticals Ltd , Cipla Ltd, ICICI Bank Ltd and Shree Renuka Sugars Ltd.
Adani Enterprises, Adani Ports, Bharat Electronics, Trent and NTPC were the top gainers on the Nifty, while losers included Apollo Hospitals, Titan Company, Shriram Finance, Wipro and IndusInd Bank.Nifty Midcap index rose 0.6 percent and Nifty smallcap index added 1.3 percent.On the sectoral front, selling was seen in the IT, pharma, realty, healthcare, while buying was seen in the auto, bank, energy, FMCG, metal, and media names.
Rupee Close:
On 27 Nov'24,the Indian rupee declined sharply by 15 paise to close at 84.44 against the U.S. dollar on Wednesday amid uncertainties surrounding U.S. President-elect Donald Trump’s trade policies and an increase in crude oil prices.However, a strong show at the domestic equity markets, FII inflows along with a weakening dollar against major currencies supported the local unit at lower level, according to forex traders.
Trading Guide:
Vinod Nair, Head of Research, Geojit Financial Services reportedly quoted as saying,Indian indices continue to exhibit positive upside as a result of healthy consolidation and the likelihood of strong H2FY25 earnings forecasts. In Asia, market sentiment was mixed due to the potential tariff impositions by the US. Meanwhile, the Chinese market rebounded on expectations of additional stimulus measures. The global sentiment is positive as the US FOMC minutes and a truce in the Middle East were optimistic. Decelerating inflation and robust growth prospects could lead to continued rate cuts by the Federal Reserve.
Market experts have recommended five shares to buy-ADF Foods Ltd, Jagsonpal Pharmaceuticals Ltd , Cipla Ltd, ICICI Bank Ltd and Shree Renuka Sugars Ltd.
(Business Correspondent)
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