Stock Market Today: Nifty 50, Sensex jump 5% each in November; investors earn over Rs.24 lakh crore in a month

Domestic market benchmarks the Sensex and the Nifty 50 closed November with strong gains. This surge was fueled by an uplift in sentiment, driven by mounting anticipation of a peak in interest rates in the US, coupled with the continuing strength in India's economic growth prospects.

Sensex rose 4.9 per cent while the Nifty 50 jumped 5.5 per cent in November.

This was Nifty's best month since July 2022. For the Sensex, it was the best month since October 2022.

The overall market capitalisation of the firms listed on the BSE jumped to nearly Rs.335.6 lakh crore from nearly ₹311.5 lakh crore on October 31, making investors richer by about Rs.24.1 lakh crore in a month.

Positive global cues underpinned domestic market sentiment.

According to a Reuters report, Asian stocks rose to clock their strongest performance in 10 months on Thursday on a relatively benign global interest rates outlook and signs of economic recovery.

On Thursday, November 30, Nifty 50 closed at 20,133.15, up 37 points, or 0.18 per cent while the Sensex closed at 66,988.44, up 87 points, or 0.13 per cent.

Mid and smallcap indices outperformed the benchmarks. The BSE Midcap index closed 0.83 per cent higher at 34,256.42 after hitting its fresh record high of 34293.56 during the session.

The BSE Smallcap index closed with a gain of 0.96 per cent at 40,371.61 after hitting a record high of 40,407.85 in intraday trade.

Nearly 350 stocks, including Axis Bank, Bajaj Finserv, Bharti Airtel, HCL Tech, Larsen & Toubro, NTPC, Sun Pharma, Titan and UltraTech Cement, hit their fresh 52-week highs in intraday trade on BSE.