Nifty Reclaims 26,000 as Sensex Jumps 513 Points in Market Rebound
Market Bounces Back: Nifty Reclaims 26,000, Sensex Surges 513 Points on IT and Banking Strength
| Index | Price | Change | % Chg |
| Nifty 50 | 26,052.65 | 142.60 | +0.55% |
| Nifty Bank | 59,216.05 | 316.80 | +0.54% |
| Nifty Financial | 27,643.70 | 96.95 | +0.35% |
| BSE SENSEX | 85,186.47 | 513.45 | +0.61% |
The market bounces back narrative took centre stage on Wednesday as Indian benchmarks erased earlier losses and finished firmly higher. Renewed foreign inflows, a rebound in major IT names and optimism around an India–US trade pact helped steady sentiment — with the Nifty closing above the 26,000 mark and the Sensex rising 513.45 points.
At close, the Nifty 50 stood at 26,052.65, up 0.55% (142.60 points), while the BSE Sensex ended at 85,186.47, up 0.61% (513.45 points). The trading day saw the NSE Nifty start weak but gain strength through the session, finishing near the day’s high despite mid-session profit booking.
Banking stocks continued their strong run, with Bank Nifty making fresh highs for the third straight session. The index touched an intraday peak of 59,264.25 and closed at 59,216.05, up 0.54%. The resilience in banking names bolstered the broader market’s recovery.
Broader indices were mixed: the BSE Midcap index rose 0.3%, while the Smallcap index slipped 0.4%, signalling selective participation across market caps.
Also Read : Shares of LG Electronics India Jump 4% as Global Brokerages Launch ‘Overweight’ Ratings
One of the strongest themes of the day was the powerful rebound in information technology counters, which played a decisive role in helping the market bounces back after Tuesday’s weakness. The Nifty IT index surged nearly 3%, posting its sharpest single-day gain in weeks, as heavyweight technology names attracted aggressive buying from both institutional and retail participants.
At the centre of this surge was Infosys, which jumped nearly 4% after announcing that its ₹18,000-crore share buyback will open on November 20. The buyback, one of the most anticipated corporate events this quarter, boosted investor sentiment across the technology pack, with market participants interpreting it as a strong signal of management’s confidence in future growth and steady cash flows.
The announcement triggered a ripple effect on peer companies, lifting overall sector momentum.
TCS gained close to 2%, supported by steady deal wins and stable commentary from recent earnings.
HCL Technologies advanced more than 4%, further aided by the company’s expansion plans in Canada.
Wipro climbed over 2%, extending its recovery trend after remaining largely range-bound over the past few weeks.
Market experts noted that the IT sector, after nearly a year of consolidation due to global macro uncertainty, is now showing early signs of a structural reversal. The moderation in US inflation data, improving commentary from global CIOs, and stabilising demand in BFSI, retail, and cloud verticals are creating a favourable environment for IT names to regain leadership.
Several company-specific developments shaped the session as the market bounces back:
Infosys advanced about 4% ahead of its buyback.
HCL Technologies rose 4% on expansion plans in Canada.
Max Healthcare, Wipro, TCS and other IT names were among the biggest gainers.
G R Infraprojects fell 2% despite an order win from Western Railways.
Biocon slipped 3% even after USFDA approval for Tofacitinib Extended-Release Tablets.
National Securities Depository (NSDL) down 1.2% after a SEBI warning letter.
KEC International dropped 9% after being barred from new Power Grid projects for nine months.
LG Electronics India rose 3% following Morgan Stanley’s overweight initiation.
Waaree Energies fell 3% after an Income-Tax Department visit.
Azad Engineering gained 2% on a purchase agreement with Pratt & Whitney Canada.
Top Nifty gainers: HCLTECH, MAXHEALTH, INFY, WIPRO, TCS.
Top losers: TMPV, COALINDIA, MARUTI, ADANIPORTS, BAJFINANCE.
Market breadth was mixed with 1,414 advancers and 1,704 decliners. More than 120 stocks hit 52-week highs on the BSE (including Bharat Forge, M&M Financial, MCX India, Hero MotoCorp, Federal Bank, Titan, SBI, BHEL) while over 200 stocks hit 52-week lows (including Cohance Lifesciences, Godrej Agrovet, United Breweries, Thermax, Sheela Foam, Vedant Fashions, SKF India, Deepak Nitrite, Westlife Foodworld).
Daily market action:
Advance-Decline ratio: 1,414 / 1,704
52-week highs: 72 (as per one stat set) / 52-week lows: 148 (another stat set)
High band hitters: 78 | Low band hitters: 68
Volatility eased as India VIX declined over 2% (settling around 11.84–11.97 in reported figures), indicating reduced near-term market nervousness.
Technically, Nifty formed a bullish daily candle with a minor lower wick, showing strong buying interest on dips over the past three sessions. The index trades comfortably above the 20- and 50-day EMAs, while the RSI has moved to about 64, reflecting improving momentum. The MACD histogram’s shrinking red bars suggest falling bearish pressure.
Key technical levels to watch:
Immediate resistance: 26,100–26,150 — a decisive close above this could extend gains to 26,350.
Support: 25,800–25,850 — the key downside cushion.
Analysts noted the market is attempting to break past the 26,050 zone repeatedly; a sustained move above 26,150 will be needed for fresh highs.
Investor optimism was further strengthened by expectations around the India–US trade deal, as officials signalled possible progress — a factor cited by market participants.
Global cues were stable: US stock futures were steady ahead of Nvidia’s earnings, a key litmus test for the AI trade. Early US futures readings: S&P 500 E-minis +0.26%, Nasdaq 100 E-minis +0.3%, Dow E-minis +0.11%.
The rupee gained about 2 paise, settling at ₹88.58 to the US dollar, supported by firm equity flows and easing crude prices.
Market participants pointed to several structural drivers: strong festive consumption, stabilising earnings, renewed foreign investor appetite, and a global rotation away from overstretched AI bets into emerging markets like India. Geojit’s V K Vijayakumar described an “anti-AI trade” that favours markets such as India.
Top trades of the day reflected these themes: Infosys buyback, IT strength, Azad Engineering’s deal, Groww’s volatility after sharp prior gains, and regulatory headlines hitting select names.
The market bounces back storyline is underpinned by solid buying in IT and banks, healthier technicals and easing volatility. While breadth remains mixed and some names face regulatory or execution headwinds, the tone is constructive — provided the Nifty clears the 26,100–26,150 zone. Participants are advised to remain selective, favouring large caps and fundamentally strong mid-caps as markets attempt to build on the recent rebound.
Why did the Indian stock market bounce back today after a weak opening session?
The Indian stock market bounced back due to strong buying in IT and banking stocks, renewed foreign institutional investor (FII) inflows, and optimism surrounding a potential India–US trade agreement. Infosys’ ₹18,000-crore buyback announcement further energized the IT index, helping the Nifty reclaim the 26,000 level and boosting overall market sentiment.
How did Infosys’ ₹18,000-crore share buyback influence the broader IT sector rally?
Infosys’ buyback served as a major confidence signal to investors, indicating strong cash reserves and management’s optimism about long-term demand. This triggered sector-wide buying, lifting IT giants like TCS, Wipro, and HCL Tech. The announcement also aligned with improving global tech sentiment, making IT the biggest contributor to the market’s recovery.
Why is the Bank Nifty hitting fresh record highs for the third consecutive session?
Bank Nifty continues to hit fresh highs due to strong credit growth, healthy Q2 earnings from top banks, stable asset quality, and renewed FII participation. Private banks and leading financials have shown resilience despite global volatility, making banking a favoured sector as the market bounces back from recent corrections.
Which sectors outperformed and underperformed on the day the market bounced back?
The outperforming sectors were IT (+2.97%), PSU Banks (+1.2%), Consumer Durables (+0.41%), and Auto (+0.24%). Underperforming sectors included Realty (-0.35%), Oil & Gas (-0.35%), and Media (-0.27%). The rally was driven by high-weightage sectors like IT and financials, while weakness in real estate and energy capped broader market gains.
What technical indicators support the market’s latest breakout above the 26,000 mark?
Technical patterns show a bullish candle with a minor lower wick on the Nifty daily chart, highlighting strong buying on dips. The index trades comfortably above its 20- and 50-day EMAs. RSI has strengthened to around 64, signalling rising momentum, while shrinking red histogram bars on the MACD indicate fading bearish pressure. Together, these suggest the market bounces back with potential for further upside toward 26,350.
How did global cues, especially Nvidia’s upcoming earnings, impact Indian markets today?
Global markets remained cautious ahead of Nvidia’s earnings, considered a key test for the AI rally dominating global equities. However, Indian markets outperformed due to domestic triggers like IT strength and trade-deal optimism. US futures were marginally positive, indirectly supporting sentiment and allowing Indian indices to recover from early declines.
Why did some stocks fall despite the strong market rebound today?
Even as the market bounces back, certain stocks declined due to company-specific events or regulatory issues. For example, KEC International fell 9% after being barred from new Power Grid projects, Biocon dipped 3% despite USFDA approval due to profit-taking, and Waaree Energies dropped 3% following Income Tax Department visits. These isolated developments overshadowed the broader market rally for these counters.
IndiGo Crisis Intensifies as Govt Steps In; DGCA Suspends FDTL Rules, Full Restoration Expected in…
Markets Cheer RBI’s Growth-Driven Rate Cut as Sensex Rises 447 Points and Nifty Ends Near…
RBI Cuts Repo Rate and Lifts Growth Forecast, Boosting Sentiment in Rate-Sensitive Stocks In a…
CAMS Shares Appear to Plunge 80% as 1:5 Stock Split Kicks In, but Investors Are…
Major Cloudflare Outage Ripples Across India’s Trading Platforms, Disrupting Market Activity A sudden Cloudflare outage…
IndiGo Shares Bounce Back as DGCA Offers Partial Relief on Pilot Duty Rules Amid Nationwide…
This website uses cookies.