Stock Market Update: Sensex Rises 200 Points, Nifty Nears 24,000; Adani Green Soars

The stock market opened on a positive note this Friday, with both the BSE Sensex and NSE Nifty showing signs of recovery after steep losses in the previous trading session. The Sensex rise by 200 points, while the Nifty nears 24,000, reflecting a stable market sentiment following yesterday’s steep sell-off.

The Sensex today opened lower at 79,032, dipping by around 12 points. However, it quickly rebounded, jumping over 150 points to 79,200. Meanwhile, the Nifty traded around 23,960, up by 50 points, as market participants awaited fresh cues on GDP numbers and monitored the movement of Asian markets.

After a sharp decline of up to 1.5% on Thursday, driven by monthly F&O expiry and global concerns about Russia's escalation of attacks on Ukraine's energy infrastructure, investors seem cautious but hopeful for a recovery in the current trading session.

Adani Green Up 9%: A Major Stock Highlight

One of the biggest gainers today is Adani Green, which surged 9%. This strong performance has been attributed to investor optimism around the company’s ongoing energy and infrastructure projects. As part of the broader Adani business empire, Adani Green continues to be a prominent player in the energy sector and is gaining significant attention in the market.

BSE Announces New Expiry Day for Derivatives Contracts

In an important development for market participants, the Bombay Stock Exchange (BSE) announced that it will shift the expiry day for its weekly and monthly derivatives contracts, including those for the Sensex, Bankex, and Sensex 50 indices. Starting from January 1, 2025, the expiry day will move from Friday to Tuesday.

This change is expected to bring more flexibility and trading opportunities for investors, but it may also require market participants to adjust their strategies to adapt to the new schedule. Additionally, Sensex contracts for the November series will expire today, making this an important day for derivatives traders.

SEBI's Proposal for Interoperability Across Stock Exchanges

Another significant update for the markets is the proposal by the Securities and Exchange Board of India (SEBI) to introduce interoperability across various stock exchanges. This includes segments such as cash, derivatives, currency, and interest rate derivatives. If approved, this change could lead to better liquidity and smoother trading conditions for market participants.

Interoperability is expected to take effect from April 1, 2025, and could be a game-changer for the Indian financial markets. By allowing investors to seamlessly trade across different exchanges, it would make the Indian stock market more accessible and efficient for all.

Global Market Cues and Asian Market Performance

On the global front, Asian markets experienced a dip on Friday. The Japanese Nikkei fell by 0.7%, driven by stronger inflation data that raised concerns about potential interest rate hikes by the Bank of Japan. The yen strengthened after Tokyo inflation data showed core consumer prices rising above the 2% target. This signals increasing price pressures in Japan’s economy.

In other Asian markets, South Korea’s Kospi plunged 1.7%, while both Taiwan and the Hang Seng Index lost about 0.3%. On a positive note, China’s Shanghai Composite saw a slight gain of 0.2%.

Meanwhile, US markets were closed on Thursday for the Thanksgiving holiday, but will resume trading tonight with a shortened session. As we look ahead to the next week, all eyes are on US market trends and how global market cues may impact Indian markets in the coming days.

Outlook for the Indian Stock Market: What’s Next?

Looking ahead, investors are likely to remain cautious in the near term, monitoring GDP numbers and the impact of global economic conditions. The Sensex and Nifty are expected to remain volatile, with potential upside if the market receives positive cues from global developments.

As we head into the weekend, investors will keep a close eye on Asian market trends and any developments related to global geopolitical tensions. The upcoming economic data, including updates on inflation and interest rates, could play a significant role in shaping the market's direction next week.