Nifty, Sensex Rally Nearly 3% During Two Consecutive Weeks Of Gain: Market Wrap

The Nifty ended 0.91% higher at 24,131.10 and Sensex closed 0.96% up at 79,802.79.

Ananya Grover

29 Nov 2024, 04:09 PM IST i

Share prices Adani Enterprises and Bharat Electronics added over 10% this week. (Photo source: Wance Paleri/Unsplash)

Benchmark equity indices gained for a second consecutive week adding nearly 3% in two weeks. Share prices of Adani Enterprises Ltd. and Bharat Electronics Ltd. added over 10% this week.

On Friday, both the indices recovered from their steep falls in the previous session as Bharti Airtel Ltd. and Reliance Industries Ltd. shares contributed the most. They had witnessed steepest intraday fall in over last three weeks on Thursday.

Globally, investors will look forward to key inflation data from Europe, along with UK's financial policy committee meeting. Intraday, both Nifty and Sensex rose 1.1%.

The Nifty ended 0.91% or 216.95 points higher at 24,131.10 and Sensex closed 0.96%, or 759.05 points up at 79,802.79.

"The Indian market is increasingly witnessing severe bouts of volatile trading, as the gyration from positive to negative zones has been very sharp owing to stretched valuation concerns and the lingering selloffs from foreign investors," said Prashanth Tapse, senior VP (Research), Mehta Equities Ltd.

Despite the recovery, there is no firm trend visible due to lack of fresh positive triggers. For the up-move to sustain, FII offloading of Indian shares needs to cool down before we see any signs of an upward bias, he said.