Market Commentary - Nov 24, 2020 - Angel Broking

Mr. Keshav Lahoti - Associate Equity Analyst, Angel Broking Ltd

Indian market touches a new lifetime high by closing up by 1%. Nifty crossed as well as closed up by 13,000 level. It will be crucial for the Nifty to remain above 13,000 level for the rally to continue. Rally was across all sectors led by the banking sector. Market is rallying due to optimism around economic recovery, FII buying, positive global cues and investors shifting their money from other asset classes especially from gold to equity. Top gainers of the Nifty were Adani Ports (4.6%), Axis Bank (4.0%) and Eicher Motors (3.7%). Top losers of the Nifty were Titan Company (1.5%), HDFC (1.5%) and BPCL (1.2%). Global cues were positive: Dow Futures, Nasdaq Futures and FTSE were up by 1.0%, 0.4% and 0.9% respectively.