All major sectors showed positive movement, with Nifty PSU Bank and Realty gaining around 3%. (AI image)

Stock market today: gave BSE Sensex Friday saw a phenomenal rise of over 2,000 points, while Nifty50 The 23,900 mark was crossed, recovering from the previous session’s five-month low, helped by positive US labor market data. The BSE Sensex ended the day up 1,961 points or 2.54 percent at 79,117.11. The Nifty 50 closed up 557 points or 2.39 per cent at 23,907.25.
According to an ET report, the total market value of BSE-listed companies increased by Rs 7.2 lakh crore, reaching Rs 432.55 lakh crore.
Major contributors to the Sensex’s rise include ICICI Bank, Reliance Industries, SBI, Infosys, ITC, and L&T. Additional support came from TCS, Bharti Airtel, and Bajaj Finance.
All major sectors showed positive movement, with Nifty PSU Bank and Realty gaining around 3%. Other sectors including banking, financial services, FMCG, IT, metal, healthcare, and oil and gas grew between 1-2 percent.

Why BSE Sensex, Nifty 50 has rallied today.

The main factors driving today’s stock market rally are:
1) Performance of the IT sector
The IT Nifty advanced nearly 2 percent, boosted by strong US employment data. US jobless claims fell by 6,000 to 2,13,000 in the week ended November 16, to a seven-month low. This suggests a possible rebound in November employment after October’s decline.
A healthy US labor situation benefits Indian IT companies, which generate substantial revenue from US operations.
2) Adani shares recovery
Adani Group shares gained momentum, rising as much as 6 percent. Ambuja Cements advanced 6 percent, followed by ACC at 4 percent. Adani Enterprises rose 2.5 percent, while other group companies rose 1-2 percent.
3) Buying value
As investors took advantage of the recent market correction, the Nifty has fallen more than 11% from its peak. The mid-cap and small-cap indices experienced a correction of around 12% and 9% respectively.
4) Influence of international market
There was positive movement in Asian markets. Japan’s Nikkei advanced after two falling sessions. Korea’s Kospi gained 0.84 percent, while Australia’s S&PASX 200 added 0.85 percent.
5) PSU banking sector
Public sector banks contributed significantly, with SBI, Bank of Baroda, and Punjab National Bank leading the recovery. The Nifty PSU Bank index rose nearly 3 percent to 6,509.2.
6) Maharashtra Political Outlook
Markets responded positively to exit polls that showed Maharashtra as a major economic hub and a likely political win for the BJP-led Mahayoti alliance.