The last week of November witnessed a rollercoaster ride in the stock markets, with SENSEX and NIFTY rising nearly 1% despite high volatility triggered by election results, FII activity, and derivative contract expiries. Here’s a detailed recap of the week’s key highlights:
Market Movements
SENSEX climbed 685 points and NIFTY rose 223 points, marking their second consecutive week of gains.
The rally was led by sectors like PSU banks, select blue chips, and newly listed stocks like NTPC Green Energy.
Volatility Factors
Election Results: Markets opened strong on Monday after BJP’s victory in Maharashtra Assembly polls, signaling potential increased government spending and improved corporate earnings for H2 FY25.
FII Activity: Foreign Institutional Investors turned net buyers after a long selling streak but sold shares worth ₹11,756 crore on Thursday, triggering a market dip.
Global Trends: Weak global cues and geopolitical concerns contributed to the market’s choppy nature.
Sectoral Highlights
PSU Banks Shine: Post-election optimism pushed PSU banks up by 5-8%. Central Bank of India led the rally with a 10% gain, supported by an insurance venture approval.
NTPC Green’s Stellar Debut: The newly listed NTPC Green Energy breached the ₹1 lakh crore market cap, with shares rising 22% from the IPO price.
Adani Group Comeback: Adani stocks recovered from losses after clarifications on bribery allegations, with key stocks jumping 10-20% mid-week.
Corporate Highlights
Swiggy Gains: Swiggy’s shares surged 12% ahead of its quarterly results, touching a 52-week high of ₹517 before settling at ₹470.5.
New F&O Entrants: SEBI’s revised norms led to 45 stocks entering the derivatives segment, including Adani Energy Solutions, Zomato, and Jio Financial.
What Lies Ahead?
Looking ahead, markets will focus on weaker-than-expected GDP data, upcoming RBI monetary policy, and macroeconomic indicators like manufacturing and service PMI, auto sales, and U.S. job data.
