Indian stock markets closed higher, with the Nifty 50 holding above 26,000 and the Sensex climbing 0.61%. The rally was primarily driven by a surge in IT stocks, fueled by renewed hopes of a US Fed rate cut.
Indian stock markets on Wednesday (November 19) closed in the green, supported largely by a strong rally in IT stocks. The Nifty 50 held steady above the 26,000 mark, ending 142 points (0.55%) higher at 26,052, while the Sensex climbed 513 points (0.61%) to settle at 85,186. The banking index also stayed firm, with Nifty Bank rising 316 points (0.54%) to end at 59,216. Midcaps edged higher by 0.34%, but smallcaps lagged, slipping 0.39%.
Market sentiment improved after renewed optimism around a potential India–US trade deal, following positive remarks from the Commerce Minister.
Vinod Nair, Head of Research at Geojit Financial Services, said the rebound was fuelled by “large-cap strength and a sharp recovery in IT stocks amid revived hopes of a US Fed rate cut.” PSU banks, meanwhile, rose on merger buzz and improving fundamentals.
Top Gainers: IT Stocks Dominate, Max Healthcare Jumps Most
IT majors led the rally as softer US labour data revived expectations of a Federal Reserve rate cut. A weaker dollar also added tailwinds to tech counters.
Top gainers on Nifty 50:
- Max Healthcare Institute: +4.3% — the biggest gainer of the day
- HCL Technologies
- Infosys
- Wipro
- TCS
The entire IT pack remained firmly in the green throughout the session, extending recent momentum.
Top Losers: Tata Motors Slips; Coal India, Maruti Also Down
A handful of large-cap names ended in the red despite the broader upbeat mood.
Top losers on Nifty 50:
- Tata Motors (PV): -2.7% — the worst performer of the day
- Coal India
- Maruti Suzuki
- Bajaj Finance
- Adani Ports
Weakness in auto and select financial stocks capped some of the market’s upside.
Market Breadth Weak Despite Index Gains
A total of 3,214 stocks were traded on the exchanges:
- 1,409 advanced
- 1,711 declined
- 94 remained unchanged
In addition, 72 stocks hit new 52-week highs, while 148 touched fresh 52-week lows, indicating that broader markets remained under pressure even as headline indices climbed.