Indian equities extended their bearish tone on Tuesday, November 25, with the monthly expiry adding to the pressure as a sliding Indian rupee and persistent FPI outflows further dampened sentiment.
The market stayed range-bound in the first half of the session, but heavy selling in the second half—especially in the last hour, just like on Monday—pulled both major indices below key levels.
After a 0.45% drop earlier, the Nifty 50 slipped another 0.29% to 25,865, marking its third straight day of losses. The S&P BSE Sensex also fell 0.38% to 84,575, extending its losing streak to three days.
Hrishikesh Yedve, AVP Technical and Derivative Research, Asit C. Mehta Investment Interrmediates, said, ” On the daily chart, Nifty 50 formed a big bearish candle, indicating continued weakness. As long as the Nifty index remains below the 26,280 level, weakness is likely to persist. On the downside, major support for Nifty is placed around 25,710, which marks the bullish gap area. A firm break below 25,710 could lead to further weakness.”
Even though the main indices remained weak, the broader market recovered. The Nifty Midcap 100 rose 0.35%, and the Nifty Smallcap 100 also bounced back with a 0.21% gain.
Sector-wise, the Nifty Media index emerged as the top laggard, losing 0.80%, followed by Nifty IT, Nifty Consumer Durables, and Nifty Oil & Gas, which fell between 0.57% and 0.34%.
On the winning side, Nifty Realty gained 1.62%, with a similar rally recorded by the Nifty PSU Bank index. Other indices, such as Nifty Metal and Nifty Pharma, also closed with gains of up to 0.55%.
Top losers today: OMCs, ITI, Rites, PVR INOX slip
ITI, which rose sharply in the previous session, came under profit-booking, falling 4.3% to ₹311.1 apiece. Extending its losing streak for the fourth straight day, Reliance Infrastructure declined another 4.20% to ₹150.44 apiece.
Honeywell Automation shares also witnessed a sharp fall of 3.60% to ₹34,995 apiece following a solid 7% surge in the previous session, while the bear run in Rites shares remained intact for the fifth straight session, shedding another 3.6% to ₹236.44 apiece.
Likewise, PVR INOX shares have remained lower for the fourth session in a row, dropping 2.70% to ₹1,049.60 apiece. Swiggy shares slumped 2.47% to ₹394.60 apiece. After a sustained bull run, Vardhman Textiles also saw a 2.35% dip, falling to ₹425 apiece.
OMC stocks including Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL) fell by over 1% after global brokerage firm Investec downgraded all three stocks to ‘sell’ from ‘hold’. The brokerage said OMC profitability is significantly more sensitive to marketing margins than refining margins.
Siemens Energy India closed 2% lower at ₹3,097 apiece after the company released its results for the July–September quarter. Blue Star also dropped 2.16% to ₹1,746 apiece, even as Motilal Oswal initiated coverage on the company with a Neutral rating and a price target of ₹1,950.
Select midcaps and financials defy market weakness
Although the Indian stock market extended its losing streak to the third straight day, some select stocks bucked the trend, with HEG leading the gains, surging 5.7% to ₹525.4 apiece. This was followed by Craftsman Automation, Century Plyboards, Himadri Speciality Chemicals, Emcure Pharmaceuticals, Anant Raj and Aditya Birla Capital, which also closed with gains of over 4%.
After remaining under pressure, Transformers and Rectifiers regained strength as the stock jumped 4% to ₹298.9 apiece. The resurgence was triggered after the company announced a significant order win worth ₹389.97 crore from Gujarat Energy Transmission Corporation Limited (GETCO).
Ending its four-day losing run, IIFL Finance also rebounded 4% to ₹557.40 apiece. Other small-cap stocks such as Anant Raj, Himadri Speciality Chemicals, and Firstsource Solutions—which had seen heavy selling in recent weeks—also rebounded with gains of up to 4.4%.
Keeping its bull run intact, Federal Bank shares jumped another 3.15% to ₹256, and during intraday trade the stock touched a fresh all-time high of ₹256.90 apiece, taking its year-to-date gains to 28%.
Other stocks such as Blue Jet Healthcare, Neuland Laboratories, Phoenix Mills, Brigade Enterprises, Latent View Analytics, Godrej Consumer Products and Granules India also rose between 2.5% and 4%.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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