Sat Nov 30 11:52:23 UTC 2024: **Indian Stock Markets Surge Despite Volatility and FII Fluctuations**
**Mumbai, November 30, 2024** – India’s benchmark indices, the SENSEX and NIFTY, concluded a volatile week with impressive gains, rising nearly 1% and marking their second consecutive week of growth. The SENSEX climbed 685 points, while the NIFTY added 223 points.
The week’s market swings were driven by several factors, including the results of Maharashtra’s Assembly elections, unusual activity by Foreign Institutional Investors (FIIs), and the monthly expiry of derivative contracts.
The week began strongly following the BJP-led alliance’s victory in the Maharashtra polls, boosting investor confidence in increased government spending and positive corporate results in the second half of fiscal year 2025. The SENSEX briefly crossed the 80,000 mark.
However, a subsequent sell-off in Adani Group shares, triggered by rating agency downgrades and global uncertainty stemming from US President-elect Trump’s tariff threats, dampened market enthusiasm. This was followed by significant FII selling on Thursday, totaling ₹11,756 crore, resulting in a single-day loss of nearly ₹1.5 lakh crore for investors.
The market rebounded on Friday, fueled by buying in blue-chip stocks such as Reliance Industries, Bharti Airtel, ICICI Bank, and L&T.
FIIs displayed mixed behavior throughout the week, shifting from substantial net purchases on Monday (over ₹9,900 crore) to significant net selling on Thursday.
Meanwhile, NTPC Green’s stock performed exceptionally well following its IPO, surpassing a ₹1 lakh crore market valuation. PSU bank shares also rallied, driven by election results and FII buying.
Looking ahead, the market is expected to react to recently released weaker-than-expected GDP data and upcoming RBI monetary policy announcements. Other key macroeconomic indicators will also influence investor decisions.
First Piper 