Stock Market Today 26 Nov: The Indian stock market opened in green on Wednesday. Early trading saw buying in the auto, IT, media, PSU banks, and pharmaceutical sectors.
Stock Market Today 26 Nov
At 9:24 am, Sensex was trading at 84,848.99, up 261.98 points or 0.31 percent. Nifty was trading at 25,968.80, up 84 points or 0.32 percent. The Nifty Bank was trading at 59,025.65, up 205.35 points or 0.35 percent. Nifty Midcap 100 index was trading at 60,559, up 261 points or 0.43 percent. The Nifty Small cap 100 index was at 17,837.85, up 107.55 points or 0.61 percent.
Experts On Stock Market
Rupak De, Senior Technical Analyst at LKP Securities, said about Nifty, “The index witnessed selling pressure as it failed to withstand pressure around 26,000, leading it to fall towards 25,850. On hourly timeframe, the index has moved into bearish territory after two back-to-back consolidation breakdowns. Furthermore, bearish divergence and a bearish crossover are visible on the daily timeframe. Sentiment may remain weak, leading to the index falling towards 25,700. On the upside, resistance remains at 26,000.”
Market experts said, “Sometimes the market fluctuates without clear logic and reason. Very short-term movements can be against emerging fundamentals. The reason for this erratic movement could be found in technical and market positioning related to futures expiry dates.” He added, “The best strategy for retail investors is to avoid trading. Gradually accumulate fair-value, high-quality growth stocks that are available at attractive valuations due to high volatility. Such stocks will recover soon.”
Top Gainers and Losers
Meanwhile, Tata Motors Passenger Vehicles, Maruti Suzuki, Adani Ports, HCL Tech, Tata Steel, Infosys, and Axis Bank were top gainers in the Sensex pack. Bharti Airtel, BEL, and HDFC Bank were top losers.
Asian Market Today
In Asian markets, Jakarta, Japan, Seoul, and China were all trading in the green. US markets closed in the green on the last trading day. The Dow Jones Industrial Average (DJI) gained 1.43 percent, or 664.18 points, to close at 47,112.45. The S&P 500 index gained 0.91 percent, or 60.76 points, to close at 6,765.88, and the Nasdaq gained 0.67 percent, or 153.59 points, to close at 23,025.59. Foreign institutional investors (FIIs) were net buyers on November 25, purchasing Indian shares worth ₹785.32 crore. Domestic institutional investors (DIIs) were also net buyers on the day, purchasing shares worth Rs 3,912.47 crore.
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