Indian equities staged a late-session turnaround on November 14, with the Nifty50 closing above 25,900 and the Sensex adding 84 points. Public sector banks spearheaded the recovery, supported by pharma and FMCG counters. Despite weak global cues and foreign outflows, the indices extended their winning streak to five consecutive sessions.
It was a day of whiplash on Dalal Street as Indian benchmark indices clawed back from early losses to finish in the green, thanks to a burst of late buying in public sector banks. The rebound capped a volatile session marked by weak global signals and persistent foreign fund outflows.
The Nifty50 closed at 25,910.05, up 30.90 points (0.12%), while the Sensex settled at 84,562.78, gaining 84.11 points (0.10%). This marked the fifth straight day of gains, with both indices logging weekly advances of around 1.6%.
Investor sentiment also received a boost from the National Democratic Alliance’s sweeping victory in the Bihar elections, which injected fresh confidence in political stability.
Notable Updates
• PSU Banks Shine: Public sector banks led the rally, with State Bank of India rising 1.34%, supported by strong buying interest across the segment.
• Sectoral Divergence: Gains were also seen in pharma and FMCG stocks, while IT, metals, and autos dragged on the indices.
• Late Surge: A sharp rebound in the final half hour of trade helped markets recover from intraday lows, underscoring the resilience of domestic investors.
• Broader Market Action: Mid-cap and small-cap indices posted gains of 1–1.5%, reflecting broad-based participation in the recovery.
• Political Tailwinds: The NDA’s decisive win in Bihar was interpreted as a stabilising factor, adding confidence to the market mood.
• Weekly Gains: Over five sessions, the Sensex rose 1.61% and the Nifty added 1.63%, extending their upward trajectory.
Major Takeaways
• Resilient Momentum: Despite weak global cues, Indian equities showcased resilience, driven by domestic buying.
• Banking Boost: PSU banks emerged as the clear leaders, reaffirming their role as market stabilisers.
• Investor Confidence: Political clarity and strong sectoral performance are reinforcing optimism among investors.
• Volatility Tamed: The India VIX fell nearly 2%, signalling cooling volatility after a rollercoaster trading week.
Why It Matters
The late-session surge highlights the strength of domestic institutions and retail investors in cushioning global shocks. With PSU banks leading the charge and broader participation evident, the market’s ability to rebound signals confidence in India’s economic fundamentals. As earnings momentum continues and political stability strengthens, equities appear poised for sustained resilience.
Sources: Business Standard, MoneyControl
