Stock Market Today Nifty 50 closed at 24,131 with a gain of 0.91%. The Sensex closed at 79760, up 0.91%. However, the broader markets underperformed benchmark indexes.
Stock Market Today: Know about Indian stock markets
Nifty Pharma was the top performer. It gained 2.35%, ending a three-day losing streak. Nineteen of the 20 index constituents gained during the session, with Torrent Pharma gaining 4%. Divi’s Laboratories, Alkem Laboratories, and Torrent Pharma all closed with gains between 3% to 4%.
The Nifty 50 ended the session with a gain of 0.91% at 24,131. The Sensex closed at 79760, up 0.91%. However, the broader markets underperformed benchmark indexes. The Nifty midcap closed at 56384, compared with its previous close. The Nifty Smallcap gained 0.75%.
The heavyweights supported the benchmark indexes in the final session of trading, but it was still not enough to make November profitable. Both the Nifty 50 and Sensex ended this month with losses of up to 0.5%. In October, both indices fell by over 6%. Both indices have reached their highest volatility levels since June. The Nifty fluctuated 1,274 points while the Sensex fluctuated 3,767 points.
Nifty Pharma was a top performer. The stock gained 2.35% and ended its three-day losing streak. Nineteen out of 20 index components finished the session on a positive note, with Torrent Pharma at the top with a 4% increase. Divi’s Laboratories and Alkem Laboratories both ended the session in the black with gains ranging from 3% to 4 %.
Cipla shares rose nearly 3% following a domestic brokerage firm’s upgrade of the stock from a buy’ to a buy’ and raising its target price to Rs1,730 by 7%. The brokerage highlighted Cipla’s strong US product portfolio, which includes respiratory drugs, injections, and peptides. It also noted that new product launches are expected to generate $1 billion in revenue by FY27.
Nifty Share Market : 44 stocks end in green, Adani Group shares
Bharti Airtel, which gained 4.3%, was the best performer among the 50 Nifty constituents. Cipla, Sun Pharmaceuticals M&M, and Tata Consumer Products were among the notable gainers. They all gained between 1 and 3 per cent.
Adani Group shares have continued to rise for the third session in a row. Adani Energy Solutions, Adani Green Energy and other shares of the Adani Group surged 21.8% and 156% respectively when they started trading on Friday, Nov. 29 in the Futures & Options section.
Adani Total Gas and two other companies from the F&O Sector have joined forces. On Friday, there were 45 options and contracts for futures. The December F&O Series has begun. Adani Green released a clarification on Wednesday. In response, the stock prices of the group increased. The company stated that “Gautam and Sagar Adani are not accused of any violations of FCPA, Foreign Corrupt Practices Act” in the counts detailed on the indictment. US Department of Justice civil claims or US Securities and Exchange Commission.
