Sensex rises 500 points from day's low: Adani Enterprises, Adani Ports, Bharat Electronics, NTPC shines

The Indian stock market saw a notable recovery on November 27, as both the Sensex and Nifty indices climbed higher in the afternoon. The Sensex surged 208.62 points (0.26%) to 80,212.68, while the Nifty rose 57.30 points (0.24%) to 24,251.80. This upward movement was largely driven by gains in bank, auto, and energy stocks, alongside a strong recovery in Adani Group shares.

At noon, market breadth was positive with 2,196 shares advancing, 1,129 shares declining, and 116 shares remaining unchanged.

Market Sentiment and Expert Views

V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, mentioned, "Indian markets are expected to consolidate around current levels, with no immediate catalysts for a breakout or breakdown. A key concern—foreign institutional investors' relentless selling—has eased, as they have now turned marginal buyers." He also noted that Donald Trump's proposed tariffs are unlikely to impact India significantly but might come under scrutiny later due to India's trade surplus with the US.

Sector Performance

Despite the overall positive trend, certain sectors faced declines. The Nifty FMCG, Pharma, and Realty sectors each slid 0.4-0.7%, with FMCG stocks retreating after previous gains due to profit booking and weak consumption trends. Notable laggards included Cipla, UltraTech Cement, Titan, ONGC, and Britannia Industries.

Conversely, Nifty Bank, Auto, and Energy sectors defied the broader market trend. Notable performances included:

M&M: Gained ground after launching new SUV models.

Hyundai Motor India: Rose nearly 2% following JPMorgan's 'overweight' coverage initiation.

Energy Stocks: Led by NTPC, Adani Power, Adani Green, and Tata Power, buoyed investor sentiment.

Individual Stock Highlights

NTPC Green Energy: Shares rallied over 2% after its subsidiary's listing, with the stock rising almost 13% in the afternoon, outperforming grey market expectations.

Ola Electric: Shares soared 9% following the launch of its most affordable electric scooters and a positive 'Buy' rating from Citi with a target price of Rs 90.

Adani Group: Stocks surged up to 7% after Adani Green Energy clarified that recent bribery and corruption allegations under the US Foreign Corrupt Practices Act were inaccurate.

Broader Market Performance

The mid and small-cap indices also showcased robust performance, gaining 0.2% and 0.8%, respectively. These indices have outperformed the frontline indices with gains of 21% since the start of the year, compared to the Nifty's 11% rise over the same period.

Anand James, Chief Market Strategist at Geojit Financial Services, stated, "Upsides continue to be challenged, even as dips keep getting picked up. The medium-term objective of 25,262 will be in play as long as dips recover swiftly above 24,030, and will be encouraged on a direct rise above 24,420."

Top Gainers and Losers on the Nifty

Top Gainers: Adani Enterprises, Adani Ports, Bharat Electronics, NTPC, and Trent.

Top Losers: Cipla, UltraTech Cement, Titan, ONGC, and Britannia Industries.

Disclaimer: The views and investment tips expressed by experts are their own. It is advisable to consult certified experts before making any investment decisions.

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