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Informist, Wednesday, Nov. 26, 2025

 

By Gopika Balasubramanium

 

MUMBAI – The benchmark indices rose sharply Wednesday, shrugging off the weak sentiment seen in the past three trading sessions and mirroring the gains in Asian indices, all of which closed higher on improved prospects of an interest rate cut by the US Federal Open Market Committee at its December meeting. The indices were slightly lower at the pre-open but climbed sharply above their resistance levels thereafter. Some analysts said that since foreign investors are net short on the market, there is a high chance they would cover these positions in the coming days, indicating further upside for the market.

 

The Nifty 50 ended at 26205.30 points, up 320.50 points or 1.2%. The 50-stock index rose as high as 26215.15 points intraday, a shade below the one-year high of 26246.65 points it hit last week. For the better part of the session, only Bharti Airtel among the Nifty 50 constituents was down. However, towards the end of the day's trade, shares of Adani Enterprises, Eicher Motors, SBI Life Insurance, and Asian Paints also fell. That said, the rise in the benchmark index was also due to huge buying interest in index heavyweights HDFC Bank, ICICI Bank, and Reliance Industries, which currently hold about 30% weightage in the index.

 

The Nifty 50 now is just 72 points away from its record high of 26277.35 points, hit on Sept. 27, 2024, and barely 11 points shy of its closing high of 26216.05 points, achieved on Sept. 26, 2024. At Tuesday's close, the 50-stock index was 390 points short of its all-time high. At the time technical analysts had said the near-term weakness would be over if the index were to cross 26000 points and sustain the gains.

 

The overall market breadth was positive, with over 71% of the stocks listed on the National Stock Exchange closing higher. The BSE Sensex closed at 85609.51 points, up 1022.50 points or 1.2%. The 30-stock index ended 369 points below its record high of 85978.25 points.

 

All the broader market indices also closed higher. Analysts said there was broad-based buying in the market Wednesday and the interest was not limited to large-cap stocks. All the sectoral indices ended the session in positive territory.

 

Among Nifty 50 stocks, Larsen & Toubro, Shriram Finance, and State Bank of India hit record highs. Among Nifty 200 stocks, Max Financial Services, Aditya Birla Capital, L&T Finance, AU Small Finance Bank, and Federal Bank hit their highest levels. PTC Industries was the only Nifty 500 constituent to hit a lifetime high. Among sectoral indices, Nifty PSU Bank, Nifty Bank, and Nifty Auto hit lifetime highs.

 

Investors primarily bought shares of banks, state-owned banks, and automobile companies during the session. Analysts are bullish on banks and non-banking finance companies on the back of improved earnings growth prospects in the second half of the financial year on improved credit growth. Non-banking finance companies are likely to fare better on cheaper borrowing costs and credit growth. As for banks, the pressure on net interest margins is likely to ease in the December quarter, but if the Reserve Bank of India cuts interest rates at its upcoming meeting, the pressure on net interest margins is likely to linger a while longer. Analysts are positive, however, that the compression will bottom out in the current financial year. The Nifty Bank and Nifty PSU Bank sectoral indices closed 0.8-1.2% higher.

In the case of automobile stocks, barring Eicher Motors, all other Nifty Auto constituents closed higher. Automobile parts maker Uno Mindo, which gained nearly 3%, was the top gainer. Others such as TVS Motor Co., Ashok Leyland, Bosch, and Tata Motors Passenger Vehicles closed 2-3% higher. Brokerages are bullish on the volume growth of Tata Motors Passenger Vehicles, which currently houses Jaguar Land Rover and other passenger vehicle operations, after the launch of the latest model of the Sierra. Nomura, which has retained its "neutral" rating on the stock and target price of INR 395, sees the addition of the Sierra to the company's portfolio creating a meaningful upside to growth expectations over three years ending 2027-28 (Apr-Mar). "We expect the Sierra's potential sales to be at (about) 10k (10,000) per month," the broking firm said. The stock closed 2% higher at INR 359.25.

 

Metal stocks rose the most during the session, with the sectoral Nifty Metal index closing 2.1% higher, extending its gains from Tuesday. Barring Adani Enterprises, all the Nifty Metal stocks closed in the green. Lloyds Metals and Energy, JSW Steel, and Steel Authority of India gained 3-4%. Analysts said improving global sentiment, coupled with expectations of safeguard duty on some steel products to counter cheaper imports, drove metal stocks higher. Analysts also said the valuations of metal companies are largely fair.

 

Investors bought shares of information technology companies amid growing hopes of an interest rate cut by the US Federal Reserve and a depreciating rupee. Weak US macroeconomic data and recent dovish comments by some Fed officials increased the possibility of another 25 basis-point cut in the federal funds target range at the FOMC meeting next month. An interest rate cut by the Fed is positive for domestic IT players as it enables clients in the US to spend more on digital infrastructure. Indian IT companies earn a lion's share of revenue from companies based in the US. Coforge, Wipro, and Infosys closed over 1-2% higher.

 

Bharti Airtel fell 3% to a near-two-week low during the session following large deals on the NSE at a discount to the stock's closing price Tuesday. Media reports had said the company's promoter group, Indian Continent Investment, planned to sell stake in the company Wednesday through block deals. Nearly 35 million shares of the company were sold at the beginning of the session at an average price of INR 2,103.65 per share, a discount of nearly 3% to the stock's closing price Tuesday of INR 2,161.60, as per data on the NSE. As per the data, the deal likely fetched INR 73.74 billion. Bharti Airtel closed at INR 2,126.80, down 1.6%.

 

Shares of Excelsoft Technologies closed 5% higher at INR 125.95. The stock was listed at INR 135, a premium of 12.5% to its issue price of INR 120. Around 78.13 million shares of the company changed hands on the bourse Wednesday.

 

* Of the Nifty 50 stocks, 45 rose and 5 fell
* Of the Sensex stocks, 28 rose and 2 fell

* On the NSE, 2,299 stocks rose, 801 fell, and 90 were unchanged

* On the BSE, 2,691 stocks rose, 1,375 fell, and 189 were unchanged

* Nifty Metal: up 2.1%; Nifty Consumer Durables: up 1.8%; Nifty FMCG: up 0.7%

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BSE                                              NSE

Sensex: 85609.51, up 1022.50 points or 1.2%      Nifty 50: 26205.30, up 320.50 points or 1.2%

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S&P BSE Sensitive Index	Nifty 50
Lifetime High: 85978.25 (Sept. 27, 2024)	: Lifetime High: 26277.35 (Sept. 27, 2024)
Record Close High: 85836.12 (Sept. 26, 2024)	: Record Close High: 26216.05 (Sept. 26, 2024)
2025 1st day close: 78507.41 (Jan. 1)	: 2025 1st day close: 23742.90 (Jan. 1)
2025 Closing High: 85632.68 (Nov. 20)	: 2025 Closing High: 26192.15 (Nov. 20)
2025 Closing Low: 72989.93 (Mar. 4)	: 2025 Closing Low: 22082.65 (Mar. 4)
2025 High (intraday): 85801.70 (Nov. 20)	: 2025 High (intraday): 26246.65 (Nov.20)
2025 Low (intraday): 71425.01 (Apr. 7)	: 2025 Low (intraday): 21743.65 (Apr. 7)
2024 1st day close: 72271.94 (Jan. 1)	: 2024 1st day close: 21741.90 (Jan. 1)
2024 Closing High: 85836.12 (Sept. 26)	: 2024 Closing High: 26216.05 (Sept. 26)
2024 Closing Low: 70370.55 (Jan. 23)	: 2024 Closing Low: 21238.80 (Jan. 23)
2024 High (intraday): 85978.25 (Sep. 27)	: 2024 High (intraday): 26277.35 (Sept. 27)
2024 Low (intraday): 70001.60 (Jan. 24)	: 2024 Low (intraday): 21137.20 (Jan. 24)
2023 1st day close: 61167.79 (Jan. 2)	: 2023 1st day close: 18197.45 (Jan. 2)
2023 Closing High: 72410.38 (Dec. 28)	: 2023 Closing High: 21778.70 (Dec. 28)
2023 Closing Low: 59288.35 (Feb. 27)	: 2023 Closing Low: 17311.80 (Oct. 17)
2023 High (intraday): 72484.34 (Dec. 28)	: 2023 High (intraday): 21801.45 (Dec. 28)
2023 Low (intraday): 58699.20 (Jan. 30)	: 2023 Low (intraday): 17098.55 (Jan. 17)
2022 1st day close: 59183.22 (Jan. 3)	: 2022 1st day close: 17625.70 (Jan. 3)
2022 Closing High: 63284.19 (Dec. 1)	: 2022 Closing High: 18812.50 (Dec. 1)
2022 Closing Low: 51360.42 (Jun. 17)	: 2022 Closing Low: 15293.50 (Jun. 17)
2022 High (intraday): 63583.07 (Dec. 1)	: 2022 High (intraday): 18887.60 (Dec. 1)
2022 Low (intraday): 50921.22 (Jun. 17)	: 2022 Low (intraday): 15183.40 (Jun. 17)
2021 Closing High: 61305.95 (Oct. 14)	: 2021 Closing High: 18338.55 (Oct. 14)
2021 Closing Low: 46285.77 (Jan. 29)	: 2021 Closing Low: 13634.60 (Jan. 29)
2021 High (intraday): 61353.25 (Oct. 14)	: 2021 High (intraday): 18350.75 (Oct. 14)
2021 Low (intraday): 46160.46 (Jan. 29)	: 2021 Low (intraday): 13596.75 (Jan. 29)
2020 Closing High: 47751.33 (Dec. 31)	: 2020 Closing High: 13981.95 (Dec. 30)
2020 Closing Low: 25981.24 (Mar. 23)	: 2020 Closing Low: 7610.25 (Mar. 23)
2020 High (intraday): 47896.97 (Dec. 31)	: 2020 High (intraday): 14024.85 (Dec. 31)
2020 Low (intraday): 25638.90 (Mar. 24)	: 2020 Low (intraday): 7511.10 (Mar. 24)
2019 High (intraday): 41809.96 (Dec. 20)	: 2019 High (intraday): 12293.90 (Dec. 20)
2019 Low (intraday): 35287.16 (Feb. 19)	: 2019 Low (intraday): 10583.65 (Jan. 29)
2018 High (intraday): 38938.91(Aug. 28))	: 2018 High(intraday): 11760.20 (Aug. 28)
2018 Low (intraday): 32483.8 (Mar. 23)	: 2018 Low (intraday): 9951.9 (Mar. 23)
2017 High (intraday): 34005.37 (Dec. 26)	: 2017 High(intraday): 10515.10 (Dec. 26)

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End

 

Edited by Rajeev Pai

 

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