By Aditya Raghunath
Investing.com -- Markets started off high, lost ground later but recovered smartly as the Nifty gained 0.52% and BSE Sensex ended 0.44% higher on November 23, 2020. Reliance Industries (NS: RELI ) (up 2.7%) and IndusInd Bank (NS: INBK ) (up 4.78%) led the rally, ably supported by Indian Oil (NS: IOC ) (up 1.89%) and Tata Motors (NS: TAMO ) (up 0.95%).
From the looks of it, the days of broad-based rallies in banking seem to be over. You are not going to see the entire sector gain momentum. Today, for instance, saw the Bank Nifty fall 0.72% even as IndusInd shares rose. SBI (NS: SBI ) (down 1.67%), Axis Bank (NS: AXBK ) (down 2.02%), and ICICI Bank (NS: ICBK ) (down 2.49%) dragged the Bank Nifty lower.
Apart from Bank Nifty, all other sectoral indices were up with IT leading with a 2.79% gain. Larsen & Toubro Infotech Ltd (NS: LRTI ) soared 4.48% while Mindtree (NS: MINT ), Infosys (NS: INFY ), and Tech Mahindra (NS: TEML ) were all up over 3%.
In Europe, markets have opened higher boosted by good news on the vaccine front. The AstraZeneca-Oxford vaccine claims to have a success rate of 90%. Any good news on the vaccine front always boosts oil and crude oil crossed the $43 mark and was trading at $43.02, up 1.41%. U.S. stocks are seen opening higher Monday, as investors digest more positive news surrounding potential coronavirus vaccines even as Covid-19 cases rise and states mandate new social restrictions.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.