Indian equities extended their winning streak on Wednesday, 12 November 2025, with both headline indices closing at fresh multi-week highs. A combination of positive global cues, optimism over a potential India‑US trade deal, easing inflation expectations and continued strength in IT, auto and pharma stocks underpinned the rally. The Sensex jumped 595 points (0.71 %) to 84,466.51, while the Nifty 50 advanced 180.85 points (0.7 %) to 25,875.80. Broader indices joined the party; the Nifty Midcap 100 climbed 0.79 % and the Nifty SmallCap 100 added 0.82 %.
Major indices and sectoral performance
| Index / Sector | Close | ∆ (Pts) | ∆ (%) | Notes |
|---|---|---|---|---|
| Sensex | 84,466.51 | +595.19 | +0.71 % | Buying in IT, auto and consumer names lifted the index. |
| Nifty 50 | 25,875.80 | +180.85 | +0.70 % | Broke above the 25,850 resistance; eyes on 26,000. |
| Nifty Bank | ≈58,300 | ~+0.85 | +1.5 % (approx.) | Financials edged higher; Bank Nifty outperformed after two flat sessions. |
| Nifty IT | ≈33,800 | – | +2.04 % | Infosys, TCS and Tech Mahindra rallied on improved global risk appetite. |
| Nifty Pharma | ≈17,350 | – | +1.0 % | Sun Pharma and Dr Reddy helped lift the sector. |
Note: Some index values are approximate because detailed intraday quotes were unavailable; percentage changes reflect broad trends.
Market breadth and other statistics
- Advances vs declines (BSE, previous session) – About 1,936 stocks advanced, 2,245 declined and 182 were unchanged, indicating mixed market breadth. Midcap and small‑cap indices outperformed, but action remained stock‑specific.
- Turnover – Volumes were above the monthly average as traders rolled positions ahead of the monthly derivatives expiry. Foreign institutional investors (FIIs) were net buyers after a prolonged selling streak, buoyed by global risk‑on sentiment. Domestic institutional investors (DIIs) turned modest sellers, booking profits at higher levels.
- New highs vs lows – Over 100 stocks across the BSE hit their 52‑week highs, reflecting bullish momentum. These included names like Bharat Forge, BHEL, NALCO, Ashok Leyland, MCX India and Laurus Labs.
Top gainers and losers
| Top gainers (Nifty/Sensex) | Approx. % change | Comments |
|---|---|---|
| Asian Paints | ≈+7 % | Strong Q2 results and margin outlook; declared interim dividend. |
| Adani Enterprises | ≈+3 % | Renewed buying by FIIs on expectations of capital‑raising plans. |
| Tech Mahindra | ≈+3 % | IT stocks rebounded on hopes of an early US Fed rate cut. |
| Bajaj Finserv | ≈+2.5 % | Buying after recent correction; financials attracted inflows. |
| TCS / Bharti Airtel | ≈+2 % | Positive cues from global IT majors and telecom tariff hikes. |
| Top losers (Nifty/Sensex) | Approx. % change | Comments |
|---|---|---|
| Tata Steel | ≈-2 % | Profit‑booking after recent gains; metal index lagged. |
| Tata Motors PV | ≈-2 % | Disappointment over domestic passenger‑vehicle sales growth. |
| Tata Motors CV | ≈-1.5 % | Cautious outlook on commercial‑vehicle demand. |
| Bharat Electronics (BEL) | ≈-1 % | Minor profit‑taking despite defence sector buoyancy. |
| Kotak Mahindra Bank | ≈-1 % | Mixed results and asset‑quality concerns weighed. |
Note: Percentage figures are approximate as intraday data from the exchanges were not fully accessible; rankings are based on reported top movers.
What moved the market
- Optimism over an India‑US trade agreement. Comments from US President Joe Biden that a “fair deal” with India was close encouraged buying in export‑oriented sectors. This narrative gained further traction after exit‑polls in Bihar pointed to a decisive NDA victory, raising hopes of political stability and pro‑reform policies.
- Resolution of the US government shutdown and rate‑cut hopes. The US Senate approved a bipartisan deal to end the longest government shutdown in history, boosting risk appetite worldwide. A softer US labour market also fuelled speculation that the Federal Reserve may cut rates earlier than anticipated, sending global equities higher.
- Falling crude‑oil prices. Brent crude slid below US$65 per barrel, easing concerns about imported inflation and energy costs. Lower oil prices benefit India, which imports most of its oil, and the relief was reflected in strong gains for transport and consumer discretionary stocks.
- Domestic macro tailwinds. Easing CPI and WPI inflation, robust GDP growth expectations and resilient corporate earnings underpinned investor confidence. The combination of lower inflation and stable policy rates continued to support equities.
- Technical breakout. The Nifty extended its rally after retesting a falling‑channel breakout and moved decisively above its 21‑day exponential moving average. Momentum indicators such as the stochastic oscillator flashed fresh buy signals, inviting follow‑through buying.
Global cues
- Equities – Asian and US markets rallied after the US government reached a resolution to reopen federal agencies and amid optimism about the India‑US trade talks. Emerging‑market indices outperformed developed markets as investors rotated into higher‑beta assets.
- Currencies – The dollar index softened slightly, while the rupee strengthened towards ₹83/US$, aiding importers. Stable foreign‑exchange reserves and potential FII inflows provided support.
- Commodities – Crude‑oil prices dipped, and gold remained range‑bound around US$1,755/oz as risk appetite improved. Metal prices were mixed, with base metals correcting on fears of slower demand from China.
Stocks to watch
| Company | Reason |
|---|---|
| Tata Power | Reported Q2 net profit of ~₹919 crore (–0.7 % YoY) and revenue of ~₹15,544 crore (–1 %). Announced purchase of a 40 % stake in a special‑purpose vehicle for ₹1,572 crore, signalling expansion in renewable assets. |
| Rail Vikas Nigam (RVNL) | Q2 net profit fell 19.7 % YoY to ₹230.3 crore despite revenue growth of 5.5 % to ₹5,123 crore. The stock may see volatility as investors assess order inflow and margin outlook. |
| Torrent Power | Q2 net profit jumped 50.5 % YoY to ₹723.7 crore on robust merchant‑power and LNG sales; revenue rose 9.8 % to ₹7,876 crore. The strong operating performance could attract buying interest. |
| Godrej Industries | Q2 net profit slipped 15.8 % YoY to ₹242.2 crore even though revenue increased 4.7 % to ₹5,032 crore; EBITDA sank 76.5 %. Earnings weakness may keep the stock under pressure. |
| Container Corporation of India (CONCOR) | Q2 net profit grew 3.6 % YoY to ₹378.7 crore on revenue of ₹2,354.4 crore (+2.9 %). The company’s margin stability and planned capex will be watched. |
| BSE Ltd. | The exchange’s stock surged after posting Q2 net profit growth of 61 % YoY to ₹557 crore and revenue growth of 44 % YoY to ₹1,068 crore. Its share price has risen nearly 55 % year‑to‑date and almost 80 % over the last 12 months. |
| Hindustan Aeronautics Ltd. (HAL) | Q2FY26 consolidated net profit rose 10.5 % YoY to ₹1,669.05 crore on revenue of ₹6,628.61 crore (+11 %). PBT margin remained healthy at 33.59 %. The stock may gain on strong order book and improving defence spending. |
| Parag Milk Foods | Reported Q2 net profit surge of 56 % YoY to ₹45.65 crore, with revenue up 15.6 % to ₹1,026 crore. Improved product mix and cost efficiency drive optimism. |
| Upcoming results | Investors will closely watch earnings from Ashok Leyland, Tata Steel, Info Edge, Prestige Estates and Asian Paints due on Thursday, as well as management commentary on demand and margins. |
Outlook for Thursday, 13 November 2025
Technical levels
- Nifty 50 – After a decisive breakout above 25,850, the index is poised to test the psychological 26,000 level and the recent 52‑week high near 26,100. Momentum indicators remain bullish, but overbought conditions could induce intraday corrections. Support lies at 25,700, followed by 25,400–25,200. A slide below 25,200 would negate the positive bias.
- Bank Nifty – The index formed a bullish candle with a long lower shadow, signalling strong demand from the lower band of its recent consolidation. It is expected to drift towards 58,577; a breakout above this zone may open the door to 59,000. Support is seen at 57,300–57,100, which corresponds to the recent breakout zone and the 20‑day EMA.
Expected market tone
The underlying tone remains positive to cautiously optimistic. The short‑term trend is up, aided by supportive global cues, easing crude‑oil prices, expectations of a favourable India‑US trade agreement and the tailwind of Q2 earnings. Traders should, however, be prepared for bouts of profit‑booking as indices approach key resistance zones. Stock‑specific action is likely to continue, especially in sectors linked to defence, IT, auto and power. A decisive close above 26,000 on the Nifty would signal further upside toward 26,100–26,250, while failure to hold 25,700 may lead to consolidation.
