Sensex jumps 950 points; Nifty above 23,700 as markets rebound

Indian equity markets rebounded connected Tuesday aft 7 consecutive sessions of losses, with the BSE Sensex surging 835 points oregon 1.08 per cent to commercialized astatine 78,174, and the Nifty50 rising 251 points oregon 1.07 per cent to 23,705 arsenic of 9:45 AM. Gains successful IT, auto, and vigor stocks drove the recovery, aided by affirmative planetary cues.  

Market Overview  
The Nifty50 entered correction territory past week, marking its longest losing streak since February 2023. However, Tuesday’s league brought alleviation arsenic the Relative Strength Index (RSI) indicated oversold conditions, sitting beneath 30.  

Key gainers included Infosys, Reliance Industries, M&M, and Tata Motors, portion Bajaj Finserv and ICICI Bank opened weaker.  

Crude lipid steadies  
Crude lipid prices stabilized aft Monday’s 3 per cent rally. Brent crude traded astatine $73.30 per barrel, and WTI hovered adjacent $69, bolstered by a weaker dollar and geopolitical tensions.  

Stock highlights  
- Ashoka Buildcon: Rose 6 per cent aft winning Rs 2,791 crore projects.  
- Waaree Energies: Dropped 6.5 per cent post-muted Q2 results.  

FII/DII action  
Foreign organization investors (FIIs) nett sold equities worthy Rs 1,400 crore connected November 18, extending their selling streak to 11 sessions. Domestic organization investors (DIIs), however, purchased Rs 2,330 crore worthy of stocks, providing immoderate support.  

Prashanth Tapse of Mehta Equities expects Nifty to look absorption astatine 23,733-23,800. A breach beneath 23,565 whitethorn hold betterment efforts, though a crisp illness is little likely.  

Global cues  
Asian markets tracked Wall Street gains, with Japan's Nikkei rising 0.2 percent and Hong Kong's Hang Seng climbing 0.8 percent. Meanwhile, U.S. S&P 500 futures were level aft a 0.4 percent overnight gain.  

With FIIs continuing to merchantability and anemic net maturation expected successful FY25, analysts expect a range-bound market, barring caller affirmative triggers.