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Market explodes as Sensex jumps big, Nifty above 26,100!
Mumbai/IBNS: The stock market witnessed a powerful surge on Wednesday as the BSE Sensex rose by 750 points and the NSE Nifty stayed comfortably above 26,100, media reports said.
At around 11:48 am, the Sensex was up by over 780 points, effectively wiping out its three-day losing streak.
The rally was fuelled by a sharp rise in metal and PSU bank stocks, according to The Economic Times.
Meanwhile, Excelsoft Technologies Ltd. made an impressive market debut, recording strong gains shortly after listing.
The stock opened at ₹135, a 12.5% premium over its issue price of ₹120. It continued its upward trajectory, jumping nearly 19% to hit ₹142.59 per share.
Excelsoft’s ₹500-crore IPO, from a global vertical SaaS company specialising in digital learning, assessment, and ed-tech solutions, was open for subscription from November 19 to 21. Shares were offered in a price band of ₹114–120, with allotments completed on November 24.
Market expert Anil Singhvi told Zee Business that he expects support for the Nifty 50 around 25,750–25,850, with a strong buy zone seen between 25,650–25,725 for Wednesday.
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