Stock Market Today: Global Markets Rally Nifty Log Best Day In Over Two Months; Adani Group Stocks Rally

• Europe: PPI — 3:30 p.m. IST 

• Europe: ECB President Christine Lagarde will speak in Frankfurt — 7:30 p.m. IST

• US: Energy Information Administration Weekly Crude Oil Inventory Report — 9:00 p.m. 

At 3:27 p.m. futures contract of Dow Jones rose 2.7% to 43,539.00, that of S&P 500 was 2.2% higher at 5,945.25, and Nasdaq 100 was 1.9% higher at 20,718.00.

The NSE Nifty 50 and BSE Sensex ended with over 1% gain tracking a rise in Infosys Ltd. and Tata Consultancy Services Ltd. Markets across Asia, Europe amid ongoing US election vote count. Infosys Ltd. and Tata Consultancy Services Ltd. and overall technology stocks contributed to the benchmark indices' rally.

The Nifty 50 ended 273.05 points or 1.13% higher at 24,486.35, and the Sensex ended 901.50 points or 1.13% higher at 80,378.13.

Unofficial vote count of US election showed that the Republican presidential candidate Donald Trump is likely to win the access to Oval office, against Democratic candidate Kamala Harris.

During the session, the Nifty 50 rose 1.34% to 24,537.1, and the Sensex rose 1.38% to 80,569.73. In terms of intraday gain, the Nifty recorded the best session since Sept 20, and Sensex since Oct 28.

It was the day for IT stocks. After a knee-jerk reaction in the opening trade, a one-way up-move was seen across the board and Nifty50 advanced by 270.75 points to settle trade at 24,484.05, said Aditya Gaggar, director, Progressive Shares. All the sectors ended the day in green with IT and Realty being the top gainers. Mid and Smallcaps soared over 2% and outperformed the Benchmark Index. The Index is on the verge of giving a breakout from a Descending Broadening Wedge formation and in the case of a successful breakout, the approximate target comes to 25,130 while on the flip side, the support level is moved higher to 24,300, Gaggar added.

Infosys Ltd., Tata Consultancy Services Ltd., Reliance Industries Ltd., Larsen & Toubro Ltd., and HCLTech Ltd. share prices added to the benchmark index.

Titan Co. Ltd., HDFC Bank Ltd., SBI Life Insurance Co. Ltd., Hindustan Unilever Ltd., and Trent Ltd. limited gains in the index.

Besides, Adani Group shares rallied on Wednesday to as much as 13% during the trade.

On NSE, 12 sectoral indices ended higher with the Nifty IT index rising the most. The NSE Nifty Bank ended with least gains.

Broader indices outperformed. BSE Midcap rose 2.28% and BSE Smallcap closed 1.96% higher.

All 21 sectoral indices on BSE closed higher with BSE Focused IT rising the most.

Market breadth was skewed in the favour of buyers. As many as 3,013 stocks rose, 961 fell, and 89 remained unchanged on the BSE.

Rupee closed 17 paise lower at 84.28 against the US dollar. It closed at 84.11 on Tuesday, according to data on Bloomberg.

• The NSE Nifty 50 and BSE Sensex ended at the highest level in over two weeks.

• The Nifty 50 recorded the best intraday jump since Sept 20. The Sensex logged the best intraday gain since Oct 28.

• The Nifty 50 and Sensex rallied as markets across Asia, Europe gained amid ongoing US election vote count.

• Infosys Ltd., Tata Consultancy Services Ltd. and Reliance Industries Ltd were top leaders in the Nifty 50 index.

• HDFC Bank Ltd., Titan Co. Ltd. and SBI Life Insurance Co. were top losers in the benchmark index.

• The NSE Nifty IT jumped the most in over three months with 4.16% intraday rise. The index ended 3.99% higher at 42,039.50.

• The Nifty was the best gainer, while the NSE Nifty Finance was the worst performing sector.

• The NSE Nifty Midcap 150 ended 2.09% higher at 21,298.50

• The NSE Smallcap 250 ended 1.88% higher at 18,027.15.