Market Commentary Quick Review News Details

Market snaps 2-days gaining streak; Nifty ends below 26,250

(28-Nov-25   15:46)

The key equity barometers ended with small cuts today, snapping a two-day winning run, as profit booking at higher levels and caution ahead of the Q2 GDP data release dampened sentiment, while mixed global cues provided limited support. The Nifty settled below the 26,250 mark. Oil & gas, realty and IT stocks declined, while auto, pharma and media advanced.

As per provisional closing data, the barometer index, the S&P BSE Sensex, declined 13.71 points or 0.02% to 85,706.67. The Nifty 50 index lost 12.60 points or 0.05% to 26,202.95.

In the broader market, the S&P BSE Mid-Cap index shed 0.04% and the S&P BSE Small-Cap index fell 0.13%.

The market breadth was negative. On the BSE, 1,992 shares rose and 2,153 shares fell. A total of 182 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 1.69% to 11.59.

New Listing:

Shares of Sudeep Pharma were at Rs 771.60 on the BSE, representing a premium of 30.12% as compared with the issue price of Rs 593.

The stock was listed at Rs 733.95, exhibiting a premium of 23.77% to the issue price.

The stock has hit a high of 795.80 and a low of 726. On the BSE, over 48.86 lakh shares of the company were traded in the counter.

Buzzing Index:

The Nifty Oil & Gas index fell 0.69% to 12,034.40. The index jumped 2.22% in two consecutive trading sessions.

GAIL (India) (down 4.13%), Gujarat State Petronet (down 2.36%), Bharat Petroleum Corporation (down 1.58%), Gujarat Gas (down 1.46%), Hindustan Petroleum Corporation (down 1.24%), Mahanagar Gas (down 1.23%), Indian Oil Corporation (down 1.23%), Oil India (down 1.13%), Petronet LNG (down 0.71%) and Oil & Natural Gas Corpn (down 0.37%) tumbled.

On the other hand, Indraprastha Gas (up 0.7%), Adani Total Gas (up 0.51%) and Aegis Logistics (up 0.45%) edged higher.

Stocks in Spotlight:

Tanfac Industries rallied 5.08% after the company received a contract from Krishna Organics, based in Vadodara, to supply solar-grade diluted hydrofluoric acid. The contract, which spans up to the financial year 2028-29, is valued at an estimated Rs 336 crore, exclusive of GST. The order will be executed over 3.5 years as per mutually agreed specifications between both parties.

One 97 Communications advanced 2.05% after a global research house reportedly upgraded the scrip to 'buy' from 'neutral' and sharply increased its target price to Rs 1,570, which is more than double its previous estimate of Rs 705.

Voltamp Transformers rallied 1.42% after the company secured a domestic contract from Gujarat Energy Transmission Corporation (GETCO) to design, manufacture, test, and supply multiple ratings of power transformers. The order, valued at approximately Rs 149 crore, is scheduled for execution within six months.

Ceigall India climbed 2.93% after the company announced that it has emerged as the lowest bidder (L1) from Madhya Pradesh Road Development Corporation for a highway construction project in Madhya Pradesh (MP).

Bandhan Bank rose 0.57%. The company said that its board has considered and approved the proposal for the sale of identified non-performing assets (NPA) and written-off portfolios of the bank through a bidding process with asset reconstruction companies (ARC).

Refex Industries rallied 7.04% after the company received an order from a large business conglomerate for excavation, loading, and transportation of pond ash/bottom ash.

Oriental Rail Infrastructure rose 0.43%. The company has bagged a contract worth Rs 25,545,135.60 from North Western Railway, Indian Railways, for the manufacture & supply of 726 coupler bodies with shank wear plates used in freight wagons.

Ashoka Buildcon declined 3.69% after the National Highways Authority of India (NHAI) temporarily suspended the company from participating in ongoing/future bids for one month or until an expert committee completes its investigation.

SEPC declined 1.86%. The company said that it has bagged an AED 35,000,000 (Rs 85 crore) contract through its UAE arm, SEPC FZE, for a strategic energy infrastructure upgrade project in the United Arab Emirates.

Global Markets:

European markets traded mixed on Friday, with investors digesting a volatile month marked by sharp swings in tech valuations and shifting monetary-policy expectations.

Asian markets ended mixed as U.S. stock futures stayed flat over Thanksgiving Day, leaving the Nasdaq Composite on track to end a seven-month winning streak.

Traders in Asia will parse fresh economic data, including Tokyo's inflation print, a leading indicator of Japan's broader price trends.

Headline inflation in Japan's capital eased to 2.7% in October from 2.8% the month before. Core inflation, which strips out prices of fresh food but includes energy prices, came in at 2.8%, slightly higher than the widely reported 2.7% figure. This was above the central bank's 2% target, boosting the case for a near-term rate hike.

Overnight in the U.S., all three major indexes were little changed. Dow Jones Industrial Average futures rose just 10 points. S&P 500 futures and Nasdaq-100 futures traded just above the flatline.

Stocks are on pace for a losing month when trading resumes on Friday. A pullback in tech stocks has weighed on the major averages in November, as doubt swirled around the future profitability of AI companies.

Yet some investors are hopeful that this month's slide will signal a year-end rally for the major averages, as they step in to buy stocks that have been unduly punished at more attractive valuations.

U.S. markets were closed Thursday for Thanksgiving Day. The stock market will close early at 1 p.m. ET on Friday.

Powered by Capital Market - Live News