Share market surges, Sensex, Nifty, and Bank Nifty hit new highs; Adani Ports, SBI, and Infosys gain

News Topical, Digital Desk : The Indian stock market opened in the green on Monday, the first trading day of the week, marking the start of a new month. Early trade saw buying in the metal, auto, IT, and PSU bank sectors. At 10 am, the Sensex was trading at 85,979.34, up 272.67 points, or 0.32 percent, and touched a new all-time high of 86,159.02 today.
The Nifty is currently at 26,266.35, up 63.40 points, or 0.24 percent, and touched a new record high of 26,325.80. The Bank Nifty is at 60,045.20, up 292.50 points, or 0.49 percent, and touched a record high of 60,114.05.

'No celebration in the market'

Market experts say, "A new record at the index level, but no celebration in the market," is a key feature of the ongoing stock market rally. For most retail investors, the value of their portfolios is lower than the previous peak of September 2024.
This confusion stems from the short duration of the rally. Importantly, 330 stocks in the NSE 500 are below their September 2024 peak. Stocks from this non-performing segment dominate the portfolios of most retail investors.

Which stocks are rising

The GDP data for the second quarter of the current financial year, especially the strong growth in manufacturing, services and final consumption expenditure, has the potential to take the market higher.
Meanwhile, TMPV, BEL, Adani Ports, SBI, Infosys, Tata Steel, HCL Tech, Axis Bank, M&M, L&T and Tech Mahindra were the top gainers in the Sensex pack. Whereas, ITC, Bajaj Finance, Maruti Suzuki and Titan were the top losers.

Status of Asian and American markets

Among Asian markets, Bangkok, Jakarta, Hong Kong and China were trading in the green. Only Seoul and Japan remained in the red.
US markets closed in the green on Friday, the last trading day. Dow Jones closed at 47,716.42 after a rise of 0.61 percent or 289.30 points. At the same time, S&P 500 index closed at 6,849.09 after a rise of 0.54 percent or 36.48 points and Nasdaq closed at 23,365.69 after a rise of 0.65 percent or 151 points.

Who is doing the shopping

Foreign institutional investors (FIIs) were net sellers for the second consecutive day on November 28, selling Indian shares worth ₹3,795.72 crore. Domestic institutional investors (DIIs) were net buyers on the day, purchasing shares worth ₹4,148.48 crore.

Read More: Wakefit is launching an IPO, applications can be made from this date in December; it pays lakhs of rupees for gold.