The Indian stock market embarked on a roller coaster ride, with the benchmark indices experiencing two days of mild downturns. However, on November 28, things took a delightful turn as the market made a robust comeback.
The Sensex closed at 66,174.20, up by 0.31%, and the Nifty soared 0.48% to settle at 19,889.70. A surge in sectors such as oil & gas, auto, and metal primarily drove this uptrend.
Impact on the stock market
Sectorial performance
| Sector/Index | Performance |
| Information Technology | + 0.89% |
| Healthcare | – 0.28% |
| Oil & Gas | + 0.94% |
| Real Estate | + 0.31% |
| Banks | + 0.38% |
Top gainers today
| Company | Price | Change (%age) |
| Adani Total Gas Ltd. | 644.20 | +19.97% |
| Adani Energy Solutions Ltd. | 865.10 | +18.65% |
| Adani Power Ltd. | 446.20 | +12.34% |
| Adani Green Energy Ltd. | 1052.80 | +12.25% |
| Adani Enterprises Ltd. | 2423.50 | +8.90% |
| The New India Assurance Co. Ltd. | 226.10 | +8.18% |
Top losers today
| Company | Price | Change (%age) |
| Raymond Ltd. | 1579.75 | -4.17% |
| Amber Enterprises India Ltd. | 3133.75 | -3.99% |
| Edelweiss Financial Services Ltd. | 68.30 | -3.74% |
| Metro Brands Ltd. | 1300.65 | -3.49% |
| Five-Star Business Finance Ltd. | 759.55 | -3.40% |
Impact on the Stock Market
A total of 3,916 stocks were actively traded, with 1,975 advancing, 1,768 declining, and 173 remaining unchanged. The market displayed 299 stocks hitting a 52-week high and 33 stocks hitting a 52-week low.
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Adani Total Gas launches green hydrogen project, sparks 20% surge in shares
Adani Total Gas Ltd. (ATGL) witnessed a remarkable surge of 20%, reaching Rs 644.15 on the BSE, following the initiation of its ‘Green Hydrogen Production and Blending Pilot Project.’
TCS surges 4% as record date set for rs 17,000-crore share buyback:
Tata Consultancy Services (TCS) witnessed a 4% surge in its stock as it set the record date for a substantial Rs 17,000-crore share buyback, reaching an intraday high of Rs 3526.45.
The market cap rose to Rs 12.89 lakh crore. The buyback, priced at Rs 4,150 per share, was announced on October 11, and November 25 is slated as the record date for shareholder eligibility.
Rupee’s rebound and positive global sentiments
The Indian rupee showcased resilience, bouncing back from record lows and settling at 83.34 against the US dollar. This recovery was attributed to positive sentiments in the equity markets and an inflow of foreign funds.
Also Read: Winter 2023: Navigating the effects on the stock market
Fueling prosperity: Oil and gas sector’s resilience shines
Against the backdrop of a dynamic market day on November 28, 2023, the Oil and Gas sector emerged as a beacon of strength, guiding investors through the turbulence. Fueled by positive market sentiments, stocks in this sector experienced a notable uptrend, contributing significantly to the day’s overall market gains.
The sector showcased resilience amid global uncertainties, with key players such as BPCL and others leading the charge. The bullish momentum in oil and gas stocks was notably influenced by factors like a weaker US dollar and fluctuating crude oil prices hovering around the $80 per barrel mark.
Conclusion
In the enthralling saga of November 28, the Indian stock market showcased resilience, bouncing back with flair. Corporate manoeuvres, currency comebacks, and sectoral symphonies orchestrated a dynamic market landscape.
As the market navigates, uncertainties, strategic moves, sectoral dynamics, and global factors continue to play key roles. Investors brace themselves for the next chapter, anticipating the twists and turns that make the stock market a thrilling ride.
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