Sensex, Nifty extend gains for third day, Nifty Bank nears record high; 5 factors driving D-Street

Résumé détaillé

The Sensex gained 31.6 points, or 0.04%, to close at 81,911, while the Nifty50 advanced 44.3 points, or 0.18%, to settle at 25,299. The Nifty Bank surged 726 points, or 1.2%, to 61,518.5, while the Nifty Midcap index rose 520 points to 62,039.

The equity benchmark indices closed higher for the third consecutive session on Thursday (November 12), with the Nifty50 ending just shy of the 25,300 mark as sustained buying in financial stocks lifted the broader market. The Nifty Bank approached its record high, with all its constituent stocks ending in the green.

The Sensex gained 31.6 points, or 0.04%, to close at 81,911, while the Nifty50 advanced 44.3 points, or 0.18%, to settle at 25,299. The Nifty Bank surged 726 points, or 1.2%, to 61,518.5, while the Nifty Midcap index rose 520 points to 62,039.

Buying interest remained concentrated in financial stocks, with Foreign Institutional Investors (FIIs) buying, supporting the sector. The Nifty Bank outperformed the benchmark indices, and all its constituent stocks ended higher.

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Market breadth remained in favour of advances, with the advance-decline ratio at 1:1.

Banking stocks led the gains, with the Nifty Bank rising 726 points to 61,518.5. All constituent stocks of the banking index closed in positive territory, while buying in financial stocks kept the index ahead of the benchmark indices.

Foreign institutional investor buying supported financial stocks, helping the Nifty Bank outperform the broader market. The index gained 1.2% during the session.

Capital market stocks remained higher, with National Stock Exchange (NSE) shares rising over 2% during the session.

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