On November 13, Sensex and Nifty continued their upward trend for the fourth consecutive day. Sensex opened with a gain of 59.38 points at 84,525.89 and reached a high of 84,630.86. Nifty opened 30.3 points higher at 25,906.10, later peaking at 25,925.60. All sectoral indices, except for IT, Oil & Gas, FMCG, and Chemicals, showed an upward movement. The Metal Index rose by 1.5% and the Realty Index gained 1%.
The previous day, BSE Sensex closed up by 595.19 points or 0.70%, ending at 84,466.51, while NSE Nifty rose by 180.85 points or 0.70% to close at 25,875.80. According to stock market data, Foreign Institutional Investors (FII) were net sellers on Wednesday, offloading shares worth ₹1,750.03 crore, while Domestic Institutional Investors (DII) bought shares worth ₹5,127.12 crore.
Market experts say that to take the markets to new record highs, more triggers are needed. The market has largely digested the results of the Bihar elections, and there are no significant political triggers expected to push the market significantly higher. However, if the actual election results differ from the exit polls, the situation could change.
IT Stocks’ Performance
The Nifty IT Index saw a decline of 0.34%. IT stocks had witnessed a rise for the previous three days. Among the 10 stocks in the Nifty IT index, LTI Mindtree, Infosys, TCS, Oracle Financial Services Software, Coforge, and Tech Mahindra saw declines. However, Mphasis, Wipro, HCL Tech, and Persistent Technologies saw gains.
India VIX Drops by 7%
The India VIX, which reflects market volatility, dropped by up to 7% in early trade, reaching 11.23. However, the decline later reduced to 1.71%.
Global Markets Outlook
Asian stock markets showed mixed trends. China’s SSE Composite and Japan’s Nikkei 225 were in the green, while Hong Kong’s Hang Seng and South Korea’s KOSPI ended in the red. The US markets closed in positive territory on Wednesday.
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