Market Wrap: SENSEX, NIFTY surge over 2%, investors get richer by ₹9.6 lakh crore; check top gainers and losers

Benchmark SENSEX and NIFTY gained more than 2% each on Friday, November 22, marking their best single-day gains since June 7 on the back of a rally in bluechip banking, oil and IT shares.

Investor wealth soared by nearly ₹9.6 lakh crore as the market capitalisation of all BSE listed companies stood at ₹432.7 lakh crore at close compared to ₹423.05 lakh crore on Thursday.

NIFTY50 rallied 557.35 points or 2.39% to settle at 23,907, with 49 of its constituents closing higher. The index opened higher and rallied 606 points to hit a high of 23,956, bolstered by gains in Reliance, ITC, ICICI Bank, and Infosys.

The 30-share SENSEX soared by 1961.32 points or 2.54% to settle at 79,117. As many as 29 SENSEX stocks closed higher while one declined. SENSEX jumped 2,062 points during the day to hit a high of 79,218.

Strong US jobs data and firm Asian markets helped Indian equities rebound. A rally in heavyweight NIFTY50 stocks, along with recovery in Adani Group shares from Thursday’s meltdown, also bolstered the sentiment.

According to experts, market sentiments also improved today after multiple exit polls predicted a victory for the ongoing BJP-led alliance government. The counting for Maharashtra election results will take place tomorrow. Maharashtra is a crucial state contributing the highest to the country’s GDP and tax collection.

In the broader market, NIFTY Midcap100 indices gained up to 1.23% while NIFTY Smallcap100 indices closed 0.9% higher.

NIFTY IT, FMCG, PSU Bank and Realty were the major sectoral movers, rising up to 3.17%. NIFTY Media was the sole loser.

SBI, Bajaj Finance, Titan, ITC major gainers

Bajaj Auto sole loser