Last updated: Nov 21, 2023 3:41 PM IST
Benchmark indices broke their three-day losing streak after gains in heavyweights like Titan Company, Reliance Industries, HDFC Bank, ICICI Bank, Airtel and Tata Steel supported sentiment.
The S&P BSE Sensex added 276 points or 0.42 percent to end at 65,931 levels, while the Nifty50 closed at 19,783, up 89 points or 0.45 percent.
SBI Life, HDFC Life, Adani Enterprises, Hindalco and Divis Labs were the additional gainers on the 50-pack index. All these shares rose between 1 and 2.7 percent.
In the broader market, the indices extended their winning streak but underperformed their frontline competitors. The BSE MidCap and SmallCap indices closed 0.14 percent and 0.20 percent higher, respectively.
In terms of sectors, the Nifty Metal index rose 1.22 percent, followed by Nifty Realty (1.13 percent) and Nifty Media (1.12 percent). On the other hand, the Nifty PSU Bank index fell 0.35 percent.
Global signals
A notable drop in US Treasury yields, coupled with a strong rally in Microsoft shares after the latter hired ousted OpenAI CEO Sam Altman, helped US indices post strong gains. The Dow Jones gained 204 points and was less than 1 percent away from the record close. Nasdaq rose more than 1 percent and the S&P 500 ended 0.7 percent higher.
Later tonight, Nvidia’s earnings and US FOMC minutes will determine US trading action.
Closer to home, in Asia, the Hang Seng in Hong Kong and Taiwan rose by more than 1 percent each. Kospi also advanced 0.9 percent. China’s Shanghai index rose about 0.5 percent. However, Japan’s Nikkei fell 0.2 percent.