Nifty, BSE Sensex Close Higher led by Reliance; Dow Futures Gains 228 Points

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Nifty, BSE Sensex Close Higher led by Reliance; Dow Futures Gains 228 Points
Credit: © Reuters.

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.

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