Sensex and Nifty Inch Higher; Pharma and Auto Shine
Sensex is up by 0.50 per cent, hovering around 79,435, and Nifty is up by 0.55 per cent, trading near 24,040.
Market Update at 9:45 AM: On Friday, markets opened on a flat note, with both Nifty and Sensex showing flattish movement. The Nifty Pharma index led the gains, while no index lagged behind.
As of now, the Sensex is up by 0.50 per cent, hovering around 79,435, and Nifty is up by 0.55 per cent, trading near 24,040. Similarly, in the broader market, the Nifty Midcap rose about 0.29 per cent to about 56,460, and the Nifty Smallcap is up by 0.56 per cent, trading near 18,610.
India VIX is up by 0.53 per cent, trading at 15.29, indicating slight rise in market volatility.
Within the sectoral landscape Nifty Pharma, Nifty Media, and Nifty Auto sector is among the Top Gainers while no sector is underperforming.
CIPLA, SUNPHARMA, and M&M are among the top gainers within the Nifty 50 while POWERGRID, SHRIRAMFIN, and ITC are among the Top Losers.
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About 1,565 stocks are advancing as against to 690 stocks that are declining, thus indicating a positive sentiment in the broader market.
Pre-Market Update at 8:00 AM: U.S. markets remained closed today in observance of the Thanksgiving holiday.
The GIFT Nifty is trading higher, indicating a positive start for the day. Nifty futures were trading at 23,913.00.
The U.S. 10-year Treasury yield stands at 4.246 per cent, while the 2-year bond yield at 4.217 per cent.
Brent crude traded near $73 and WTI at $69 amid thin U.S. holiday trading. Oil dipped 3% this week as a reported Israel-Hezbollah cease-fire eased tensions. U.S. oil stocks fell by 1.8M barrels, but gasoline rose by 3.3M barrels. OPEC+ meets on December 5 to decide on 2025 supply cuts.
On November 28 2024, foreign institutional investors (FII) sold shares worth Rs 11,756 crore, while domestic institutional investors (DII) bought shares worth Rs 8,718 crore.
As of November 29, 2024, no stocks are under the F&O segment trading ban.
Disclaimer: The article is for informational purposes only and not investment advice.