Major indices
| Index | Close | Change (pts) | Change (%) | Notes |
|---|---|---|---|---|
| S&P BSE Sensex | 85 641.90 | –64.77 | –0.08 % | The Sensex erased early gains, slipping from a fresh intraday high of 86 159.02 as profit‑booking set in. |
| Nifty 50 | 26 175.75 | –27.20 | –0.10 % | The index briefly topped a record 26 325.80 before ending slightly lower. |
| Nifty Bank | 59 681.35 | –71.35 | –0.12 % | After crossing 60 000 for the first time, the index closed mildly lower. |
| Nifty IT | 37 549.75 | +144.25 | +0.39 % | IT stocks outperformed, benefiting from softer rupee and strong U.S. tech cues. |
| BSE Smallcap | 52 079.91 | +26.20 | +0.05 % | Small‑cap index eked out a tiny gain; Mid‑cap index fell about 0.19 %. |
Sectoral performance
| Sector index | Move on day | Comments |
|---|---|---|
| Nifty Auto | +0.79 % | Passenger‑vehicle makers led gains amid robust November sales expectations; Maruti and Tata Motors rose. |
| Nifty Metal | +0.58 % | Steel producers gained on hopes of higher domestic demand and a rebound in Chinese property stimulus. |
| Nifty IT | +0.39 % | Benefited from rupee weakness and upbeat U.S. tech sentiment. |
| Nifty PSU Bank | +0.25 % | State‑run lenders extended recent rally, though heavyweights such as SBI slipped late in the day. |
| Nifty Consumer Durables/Pharma/FMCG/Private Bank | –0.2 % to –0.6 % | Profit‑taking weighed; valuations look stretched after recent gains. |
| Nifty Realty | –1 % | The sector was the day’s worst performer as rising bond yields and higher borrowing costs dampened outlook. |
| Nifty Healthcare | –~1 % | Dragged by Max Healthcare, Sun Pharma and other pharma majors. |
Top gainers and losers (Nifty 50)
| Gainers | % Change | Losers | % Change |
|---|---|---|---|
| UltraTech Cement | +3.56 % | Max Healthcare | –2.67 % |
| Tata Motors Passenger Vehicles (TMPV) | +1.93 % | InterGlobe Aviation (IndiGo) | –2.19 % |
| Maruti Suzuki India | +1.42 % | Bajaj Finance | –1.71 % |
| Bharat Electronics | +1.36 % | Sun Pharma | –1.28 % |
| Kotak Mahindra Bank | +1.12 % | Trent Ltd | –0.76 % |
Note: TMPV refers to Tata Motors’ passenger‑vehicle unit listed as a separate entity.
Key statistics and market drivers
- Record highs and profit‑booking: Strong Q2 FY26 GDP growth of 8.2 % (fastest in six quarters) initially propelled indices to new peaks, but investors booked profits as valuations looked rich.
- Rupee weakness: The Indian rupee slid to a fresh all‑time low around ₹89.5 per USD, undermining sentiment and raising concerns over imported inflation.
- FII/DII flows: Provisional data from the last session (Nov 28) showed foreign investors net sold ₹3 ,796 cr, while domestic institutions bought ₹4 ,148 cr. Continued FII selling weighed on large caps.
- Macroeconomic mixed signals: Nominal GDP growth (8.7 %) disappointed compared with real GDP, tempering expectations of a December RBI rate cut. November GST collections were steady at about ₹1.70 trillion.
- Volume leaders: Vodafone Idea, Physicswallah and Magellanic Cloud were the most actively traded stocks by volume on the NSE.
What moved the market?
- Stronger rupee depreciation and rising bond yields drove investors to lighten positions in banks and rate‑sensitive sectors, even as real GDP data impressed.
- Profit‑booking after record highs; many traders locked in gains after indices hit lifetime peaks in early trade.
- Expectation shift on RBI policy: The robust GDP print lessened the likelihood of an immediate rate cut, tempering hopes for further liquidity support.
- Global cues: U.S. markets rallied on Nov 28 amid expectations of a Federal Reserve rate cut, while European markets were mixed and Asian peers showed divergent trends (Shanghai and Hong Kong up; Nikkei and Kospi down). Brent crude hovered near US $63.5/bbl, up around 1.6 %, while gold steadied. The supportive global environment initially buoyed sentiment but failed to offset domestic headwinds later in the day.
Corporate updates and stocks in focus
- Wockhardt: The stock jumped over 18 % intraday after the US FDA accepted its new antibiotic Zaynich for review.
- Lenskart Solutions: Shares rallied after the eyewear retailer reported nearly 20 % year‑on‑year growth in profit and revenue for Q2 FY26.
- Tejas Networks: Gained almost 6 % after receiving ₹84.95 cr under the telecom PLI scheme; the move signals robust order pipeline.
- UltraTech Cement: Led index gains on expectations of margin expansion amid stable fuel costs.
- Adani Ports & SEZ and Bharat Electronics (BEL): ICICI Securities’ Dharmesh Shah advised positional investors to buy Adani Ports (₹1,466–₹1,516 target ₹1,675) and BEL (₹405–₹415 target ₹466); both belong to strong sectors (ports/logistics and defence electronics).
- Upcoming events: Monthly auto sales numbers, RBI monetary policy announcement and progress on the US–India trade deal are key monitorables.
Global cues summary
- U.S. equity markets: The Dow, S&P 500 and Nasdaq all advanced on Nov 28, supported by expectations of a Fed rate cut and strong consumer spending data.
- Asia: The Shanghai Composite and Hang Seng were higher, while Japan’s Nikkei and South Korea’s Kospi edged lower amid profit‑booking.
- Commodities: Brent crude moved up toward $63–$64/bbl as OPEC+ signalled adherence to supply cuts; gold held firm near ₹4,239/g on safe‑haven demand.
- Currencies: The dollar index moderated slightly; however, rupee depreciation dominated domestic headlines.
Technical levels and tomorrow’s outlook (Tuesday, 2 Dec 2025)
- Nifty 50: Analysts see immediate support around 26 000, with stronger support at 25 800–25 700. Resistance is expected at 26 350–26 500. The index formed a small‑bodied candle with long shadows, indicating indecision; sustaining above 26 000 may prompt a retest of the record high.
- Bank Nifty: Support at 59 200 (positional support at 58 900); resistance near 60 000 and 60 500. The index recorded a Doji candlestick on the daily chart, suggesting consolidation after a strong run.
- Market tone: Despite minor profit‑taking, the overall trend remains positive. With macro data supportive and global markets stable, analysts expect a mildly bullish to range‑bound tone for Tuesday. Traders should monitor rupee movements, FII flows and any commentary ahead of the RBI policy. Stocks aligned with strong sectors—banking, financial services, metals, auto and healthcare—remain preferred on dips, whereas IT, realty and media may continue to underperform.
