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Financials led the market rally as Nifty ended at 12,844 and Sensex gained 282 points.

Posted on 20-Nov-2020

Financials led the market rally as Nifty ended at 12,844 and Sensex gained 282 points.

The financials led the market rally as the market rebounded sharply. Though the market could not totally recover from the previous day's losses but a large amount of participation was seen even in the broader markets. Sensex gained 282 points and ended at 43,882  while Nifty gained 87 points and ended at 12,859 . Out of 30 Sensex stocks , 21 of them ended in the green and Induslnd bank , RIL , SBI , Bajaj Finance and Bajaj Finserv were the volume toppers . Bajaj Finance ,Titan , and Bajaj Finserv were the major gainers of the index while the major losers were Induslnd bank , Pharma and RIL . Amid the market optimism, the Nifty Smallcap index gained 1.2 percent while the Nifty Midcap index gained 0.85 percent respectively.

On this day , recovery has been seen in the index majors which has not only helped the index to end higher but also helped the market to reconcile from the losses.The top gainers in the sectoral front were Banking , Telecom and Consumer Durables while the rest of the indices ended in the green . After the slide of yesterday , the market took a breather and managed to end in the green . The banking sector supported the sharp recovery that was seen in the market during the second half of it . The first half of the  market witnessed high volatility .There has been conflicting views over the US Fiscal stimulus and an increase in the Covid cases, which has led the market to move  cautiously. The economy recovery is broadly based on the effectiveness of the vaccine distribution . Hence , this is a major factor that will determine the momentum of the market in the upcoming days .

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