Indian stock markets displayed resilience on Friday, November 29, as benchmark indices rebounded strongly, supported by heavyweight stocks.
Despite a mixed performance from broader markets, the rally provided a positive close for November’s final trading session.
Benchmark Indices
The Nifty 50 climbed 0.91% to close at 24,131, while the BSE Sensex advanced 0.96%, settling at 79,802. Midcap and small-cap stocks showed varying performances:
- The Nifty Midcap 100 rose slightly by 0.16% to 56,392.
- The Nifty SmallCap 100 outperformed, gaining 0.75% to reach 18,650.
While Friday’s recovery was notable, it couldn’t offset the month’s losses, with the Nifty 50 and Sensex both recording declines of up to 0.5% for November.
These results follow a steeper 6% drop in October, highlighting the challenges faced in recent months.
Top Gainers and Losers
The day’s market activity was marked by significant movements among individual stocks and sectors:
Nifty 50 Top Gainers
- Bharti Airtel: +4.28%
- Cipla: +2.76%
- Sun Pharmaceutical Industries: +2.69%
- Mahindra & Mahindra (M&M): +2.33%
- Adani Ports: +1.92%
Nifty 50 Top Losers
- Power Grid Corporation: -1.27%
- Shriram Finance: -0.79%
- Hero MotoCorp: -0.46%
BSE Sensex Top Gainers
- Bharti Airtel: +4.30%
- Sun Pharma: +2.68%
- M&M: +2.38%
- UltraTech Cement: +1.78%
BSE Sensex Top Losers
- Power Grid Corporation: -1.23%
- Nestle India: -0.07%
Sectoral Highlights
Among sectors, Nifty Pharma emerged as the strongest performer, gaining 2.35% and ending a three-day losing streak. Key contributors included:
- Torrent Pharma: +4%
- Divi’s Laboratories and Alkem Laboratories: +3% to 4%
- Cipla: Nearly 3%, buoyed by an analyst upgrade highlighting its U.S. portfolio and promising sales projections from new product launches.
Other sectors like Media, Energy, and Consumer Durables also posted gains exceeding 1%. Conversely, Realty and PSU Banks faced declines of 0.59% and 0.56%, respectively.
Broader Market Dynamics
Midcap Movers:
- Gainers included APL Apollo Tubes and Alkem Laboratories, while Colgate Palmolive and KPIT Technologies underperformed.
SmallCap Leaders:
- Piramal Pharma surged 9.49%, followed by Gujarat Narmada Valley Fertilisers & Chemicals (+4.99%).
- On the downside, CreditAccess Grameen slid 8.78%.
Adani Group Stocks Continue to Rally
Adani Group companies extended their upward momentum, fueled by their inclusion in the Futures & Options (F&O) segment and recent clarity on regulatory allegations.
- Adani Green Energy: +21.8%
- Adani Energy Solutions: +15.6%
Global Context
Global markets remained subdued amid the U.S. Thanksgiving holiday, limiting trading activity. In Europe, bond yields reflected mixed economic sentiment, while oil prices gained ahead of the December 5 OPEC meeting.
As the markets step into December, all eyes are on domestic and global developments that could shape investor sentiment.
With large-cap momentum and sectoral recoveries gaining steam, analysts are optimistic about potential opportunities in the weeks ahead.
Disclaimer – The information presented in this article is for informational purposes only and does not constitute financial advice, investment recommendations, or an endorsement of any security, stock, or market strategy. MarketScope Daily is not a SEBI-registered advisory firm and does not guarantee the accuracy, completeness, or reliability of the data provided. Readers are advised to consult a certified financial advisor or conduct independent research before making any investment decisions. Market investments are subject to risks, including the potential loss of principal.
