Stock market today:The domestic benchmark indices, ended higher on Wednesday, supported by easing crude oil prices and growing expectations of foreign fund inflows amid concerns over heavy artificial intelligence (AI) investments globally.
The Nifty 50 advanced 0.84% to close at 25,255.05, while the Sensex rose 0.95% to 81,879.4. Both indices settled at their highest levels since 26 February and have gained nearly 10% so far in November, outperforming their emerging-market peers.
Foreign portfolio investors (FPIs) have pumped nearly $6 billion (approximately ₹53,700 crore) into Indian equities so far in November, marking their biggest monthly buying spree since September 2024. The turnaround follows two years of net outflows, as India emerges as an alternative investment destination amid growing investor concerns over elevated AI spending in global markets.
Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, has recommended buying Canara Bank at ₹132.15, with a target price of ₹143 and a stop-loss of ₹126. The trade has an investment horizon of two to three weeks.
He has also recommended Pine Labs at ₹166.10, with a target of ₹179 and a stop-loss of ₹159, over the same two- to three-week timeframe.