Markets Rally: SENSEX surges 700 points, NIFTY hits 23,650; ONGC gains 4%, NTPC up 3%
Markets surged on Tuesday, November 19, with all sectors contributing to gains. By 9:54 AM, the SENSEX rose 723 points (0.93%) to 78,062, while the NIFTY50 climbed 212 points (0.90%) to 23,666. Oil & gas and auto stocks led the rally, with ONGC and NTPC among the top gainers.
Sectoral Highlights:
The BSE Oil & Gas index advanced 1.29% to 26,105, driven by robust performances in energy stocks. Broader markets also gained, with the BSE MidCap up 1.36% and SmallCap rising 1.54%.
Buzzing Stocks:
- PG Electroplast jumped 15% to a 52-week high of ₹718.35 after its subsidiary partnered with Spiro Mobility to manufacture EVs in India.
- ONGC surged 4.2% to ₹255.30 as its joint venture with NTPC Green Energy Limited focused on renewable energy projects gained traction.
Global Trends:
Asian markets showed modest gains. Japan’s Nikkei added 0.2%, while South Korea’s Kospi and Australia’s index rose 0.1%. US bond yields and the dollar steadied, with tech shares recovering globally.
Commodities Update:
Brent crude gained 7 cents to $73.37 per barrel, supported by Norway’s Johan Sverdrup oilfield shutdown due to a power outage. WTI crude rose 8 cents to $69.26 per barrel.
Investors remained optimistic, with buying momentum evident across indices and sectors.
