BSE Commodities

Broader indices saw profit booking in the week ended November 21 and lagged the headline benchmarks, with the midcap and smallcap indices slipping 1-2 percent. The weakness came amid a global selloff after strong US job additions dimmed hopes of a December Fed rate cut, the rupee hit a record low, and uncertainty persisted over the US-India trade deal.

For the week, the BSE Sensex gained 669.14 points, or 0.79 percent, to close at 85,231.92, while the Nifty50 rose 158.1 points, or 0.61 percent, to end at 26,068.15.

Foreign institutional investors (FIIs) pared their selling, offloading equities worth ₹188 crore. Domestic institutional investors (DIIs) remained strong buyers, pumping in ₹12,969.03 crore.

Among sectors, the Nifty IT index climbed 1.6 percent, the Nifty Auto gained 1 percent, and the Nifty Bank rose 0.6 percent. On the downside, Nifty Realty slid 3.7 percent, Nifty Metal fell 3.3 percent, and Nifty Media dropped 2.4 percent.

"Bullish sentiment continued through the week, supported by stronger Q2 earnings, easing inflation, and optimism around India–US trade negotiations. A moderation in FII selling—driven by expectations of earnings upgrades in H2FY26—also aided the valuations. However, markets turned volatile on Friday amid weak global cues and rising concerns over potential delays in the India–US trade talks," said Vinod Nair, Head of Research, Geojit Investments.

"A better-than-expected non-farm payroll scaled back expectations of a December FED rate cut, which impacted the global equities. The ripple effect seen in haven assets like gold witnessed selling pressure while INR declined to a new low. The oil prices declined due to the US's renewed push for a Russia-Ukraine peace proposal."

"The market may witness some profit booking in the near term if the pressure on INR persists. In the week ahead, investors will also have a close vigil on trade developments and economic data like IIP and Q2FY26 GDP data to get the market direction," he added.

The BSE Small-cap index declined 2 percent, with Fischer Medical Ventures, Spectrum Electrical Industries, RIR Power Electronics, Jai Balaji Industries, Websol Energy System, Deccan Cements falling between 15-30 percent, while gainers were Astec Lifesciences, Sri Adhikari Brothers Television, VLS Finance, 5paisa Capital, VL E-Governance and IT Solutions, and Narayana Hrudayalaya.

<img class="alignnone size-full wp-image-13690941" src="https://images.moneycontrol.com/static-mcnews/2025/11/20251122052422_small.png" alt="small" width="780" height="881" />

Where is Nifty50 headed?

Siddhartha Khemka - Head of Research, Wealth Management, Motilal Oswal Financial Services

We expect markets to remain firm next week, supported by buying on dips, improving demand outlook in Q3 and resilient flows. Any progress on the India-US trade talks would be a key short-term catalyst for the markets.

Ajit Mishra – SVP, Research, Religare Broking

A sustained move above 26,250 could drive the index towards 26,500. On the downside, the 26,000–25,850 zone is expected to act as strong support for the index.

Traders are advised to stay focused on sectoral rotation, with auto and banking themes likely to remain in favour, while maintaining a stock-specific and risk-managed approach.

Osho Krishan, Chief Manager -Technical and Derivative research at Angel One

Going ahead, one must remain vigilant to any global developments that are likely to act as a catalyst for our markets. Furthermore, given the expected volatility associated with contract expiry, it is advisable to adopt a pragmatic approach that emphasizes robust risk management in the current environment.

Additionally, the strategy of purchasing during market dips has demonstrated efficacy in recent times, and it is essential to sustain this approach moving forward.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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Smallcaps slip 10-30% as broader indices underperform

Sector-wise, Nifty IT gained 1.6%, Auto rose 1%, and Bank added 0.6%. Meanwhile, Realty slipped 3.7%, Metal fell 3.3%, and Media dropped 2.4%.

Smallcaps slip 10-30% as benchmarks lose momentum

Broader indices saw profit booking in the week ended November 21 and lagged the headline benchmarks, with the midcap and smallcap indices slipping 1-2 percent. The weakness came amid a global selloff after strong US job additions dimmed hopes of a December Fed rate cut, the rupee hit a record low, and uncertainty persisted over the US-India trade deal.

For the week, the BSE Sensex gained 669.14 points, or 0.79 percent, to close at 85,231.92, while the Nifty50 rose 158.1 points, or 0.61 percent, to end at 26,068.15.

Foreign institutional investors (FIIs) pared their selling, offloading equities worth ₹188 crore. Domestic institutional investors (DIIs) remained strong buyers, pumping in ₹12,969.03 crore.

Among sectors, the Nifty IT index climbed 1.6 percent, the Nifty Auto gained 1 percent, and the Nifty Bank rose 0.6 percent. On the downside, Nifty Realty slid 3.7 percent, Nifty Metal fell 3.3 percent, and Nifty Media dropped 2.4 percent.

&quot;Bullish sentiment continued through the week, supported by stronger Q2 earnings, easing inflation, and optimism around India–US trade negotiations. A moderation in FII selling—driven by expectations of earnings upgrades in H2FY26—also aided the valuations. However, markets turned volatile on Friday amid weak global cues and rising concerns over potential delays in the India–US trade talks,&quot; said Vinod Nair, Head of Research, Geojit Investments.

&quot;A better-than-expected non-farm payroll scaled back expectations of a December FED rate cut, which impacted the global equities. The ripple effect seen in haven assets like gold witnessed selling pressure while INR declined to a new low. The oil prices declined due to the US's renewed push for a Russia-Ukraine peace proposal.&quot;

&quot;The market may witness some profit booking in the near term if the pressure on INR persists. In the week ahead, investors will also have a close vigil on trade developments and economic data like IIP and Q2FY26 GDP data to get the market direction,&quot; he added.

The BSE Small-cap index declined 2 percent, with Fischer Medical Ventures, Spectrum Electrical Industries, RIR Power Electronics, Jai Balaji Industries, Websol Energy System, Deccan Cements falling between 15-30 percent, while gainers were Astec Lifesciences, Sri Adhikari Brothers Television, VLS Finance, 5paisa Capital, VL E-Governance and IT Solutions, and Narayana Hrudayalaya.



Where is Nifty50 headed?

Siddhartha Khemka - Head of Research, Wealth Management, Motilal Oswal Financial Services

We expect markets to remain firm next week, supported by buying on dips, improving demand outlook in Q3 and resilient flows. Any progress on the India-US trade talks would be a key short-term catalyst for the markets.

Ajit Mishra – SVP, Research, Religare Broking

A sustained move above 26,250 could drive the index towards 26,500. On the downside, the 26,000–25,850 zone is expected to act as strong support for the index.

Traders are advised to stay focused on sectoral rotation, with auto and banking themes likely to remain in favour, while maintaining a stock-specific and risk-managed approach.

Osho Krishan, Chief Manager -Technical and Derivative research at Angel One

Going ahead, one must remain vigilant to any global developments that are likely to act as a catalyst for our markets. Furthermore, given the expected volatility associated with contract expiry, it is advisable to adopt a pragmatic approach that emphasizes robust risk management in the current environment.

Additionally, the strategy of purchasing during market dips has demonstrated efficacy in recent times, and it is essential to sustain this approach moving forward.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

<img class="size-full wp-image-13690853" src="https://images.moneycontrol.com/static-mcnews/2025/11/20251122031022_bse-nsee_nifty-Sensex.jpg" alt="The Indian equity indices extended the gains in the second consecutive week ended November 21 amid volatility led by delay in US India trade deal, uncertainty about Fed rate cut after better US non-farm payroll data, falling rupee and soft manufacturing PMI data." width="1280" height="720" /> The Indian equity indices extended the gains in the second consecutive week ended November 21 amid volatility led by delay in US India trade deal, uncertainty about Fed rate cut after better US non-farm payroll data, falling rupee and soft manufacturing PMI data.

<img class="size-full wp-image-13690854" src="https://images.moneycontrol.com/static-mcnews/2025/11/20251122031213_Sensex_Nifty.jpg" alt="For the week, BSE Sensex index added 669.14 points or 0.79 percent to close at 85,231.92 and Nifty50 rose 158.1 points or 0.61 percent to finish at 26,068.15." width="1280" height="720" /> For the week, BSE Sensex index added 669.14 points or 0.79 percent to close at 85,231.92 and Nifty50 rose 158.1 points or 0.61 percent to finish at 26,068.15.

<img class="size-full wp-image-13690855" src="https://images.moneycontrol.com/static-mcnews/2025/11/20251122031238_market_stocks_sensex_Nifty.jpg" alt="The BSE Large-cap Index ended with marginal gains. Hero MotoCorp, Max Healthcare Institute, Eicher Motors, Bharti Airtel, Siemens were among major gainers, while losers were Vodafone Idea, JSW Energy, Tata Motors Passenger Vehicles, Bajaj Holdings &amp; Investment, Hindustan Zinc, Vedanta, DLF." width="1280" height="720" /> The BSE Large-cap Index ended with marginal gains. Hero MotoCorp, Max Healthcare Institute, Eicher Motors, Bharti Airtel, Siemens were among major gainers, while losers were Vodafone Idea, JSW Energy, Tata Motors Passenger Vehicles, Bajaj Holdings &amp; Investment, Hindustan Zinc, Vedanta, DLF.

<img class="size-full wp-image-13690856" src="https://images.moneycontrol.com/static-mcnews/2025/11/20251122031304_sensex_nifty_sensexdown.jpg" alt="BSE Mid-cap Index shed 1 percent dragged by Kaynes Technology India, Supreme Industries, Bharat Dynamics, Star Health &amp; Allied Insurance Company, Tube Investments of India, Kansai Nerolac Paints, however, gainers included Mahindra and Mahindra Financial Services, GMR Airports, 360 One Wam, PB Fintech, LT Technology Services, Hexaware Technologies." width="1280" height="720" /> BSE Mid-cap Index shed 1 percent dragged by Kaynes Technology India, Supreme Industries, Bharat Dynamics, Star Health &amp; Allied Insurance Company, Tube Investments of India, Kansai Nerolac Paints, however, gainers included Mahindra and Mahindra Financial Services, GMR Airports, 360 One Wam, PB Fintech, LT Technology Services, Hexaware Technologies.

<img class="size-full wp-image-13690858" src="https://images.moneycontrol.com/static-mcnews/2025/11/20251122031336_sensex_stocks_nifty.jpg" alt="The BSE Small-cap index declined 2 percent with Fischer Medical Ventures, Spectrum Electrical Industries, RIR Power Electronics, Jai Balaji Industries, Websol Energy System, Deccan Cements falling between 15-30 percent, while gainers were Astec Lifesciences, Sri Adhikari Brothers Television, VLS Finance, 5paisa Capital, VL E-Governance and IT Solutions and Narayana Hrudayalaya." width="1280" height="720" /> The BSE Small-cap index declined 2 percent with Fischer Medical Ventures, Spectrum Electrical Industries, RIR Power Electronics, Jai Balaji Industries, Websol Energy System, Deccan Cements falling between 15-30 percent, while gainers were Astec Lifesciences, Sri Adhikari Brothers Television, VLS Finance, 5paisa Capital, VL E-Governance and IT Solutions and Narayana Hrudayalaya.

<img class="size-full wp-image-13690860" src="https://images.moneycontrol.com/static-mcnews/2025/11/20251122031412_Nifty_sensex_marketup.jpg" alt="On the sectoral front, Nifty IT index surged 1.6%, Nifty Auto index added 1%, Nifty Bank index rose 0.6%, on the other hand, Nifty Realty index fell 3.7%, Nifty Metal index fell 3.3%, Nifty Media shed 2.4%." width="1280" height="720" /> On the sectoral front, Nifty IT index surged 1.6%, Nifty Auto index added 1%, Nifty Bank index rose 0.6%, on the other hand, Nifty Realty index fell 3.7%, Nifty Metal index fell 3.3%, Nifty Media shed 2.4%.

<img class="size-full wp-image-13690861" src="https://images.moneycontrol.com/static-mcnews/2025/11/20251122031434_sensex_nifty-market.jpg" alt="During the week, Bharti Airtel added the most in terms of market value, followed by Reliance Industries, Infosys, Tata Consultancy Services. On the other hand, Tata Motors Passenger Vehicles, Bajaj Finance, Bharat Electronics, lost the most of their market-cap. (Disclaimer: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the soles beneficiary.)" width="1280" height="720" /> During the week, Bharti Airtel added the most in terms of market value, followed by Reliance Industries, Infosys, Tata Consultancy Services. On the other hand, Tata Motors Passenger Vehicles, Bajaj Finance, Bharat Electronics, lost the most of their market-cap. (Disclaimer: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the soles beneficiary.)

<img class="size-full wp-image-13690867" src="https://images.moneycontrol.com/static-mcnews/2025/11/20251122031520_Sensex_market_Nifty.jpg" alt="The Foreign Institutional Investors' (FIIs) reduced its selling in this week as they sold equities worth Rs 188 crore, while Domestic Institutional Investors (DII) continued their buying as they bought equities worth Rs 12,969.03 crore." width="1280" height="720" /> The Foreign Institutional Investors' (FIIs) reduced its selling in this week as they sold equities worth Rs 188 crore, while Domestic Institutional Investors (DII) continued their buying as they bought equities worth Rs 12,969.03 crore.

<img class="size-full wp-image-13690868" src="https://images.moneycontrol.com/static-mcnews/2025/11/20251122031554_rupee_fall.jpg" alt=" The Indian rupee extended the losing streak in the second week, hitting fresh record low of 89.48. The domestic unit ended 74 paise lower at 89.40 per dollar on November 21 against the November 14 closing of 88.74. During the week, the Indian rupee traded in the range of 89.48-88.42." width="1280" height="720" /> The Indian rupee extended the losing streak in the second week, hitting fresh record low of 89.48. The domestic unit ended 74 paise lower at 89.40 per dollar on November 21 against the November 14 closing of 88.74. During the week, the Indian rupee traded in the range of 89.48-88.42.

The Foreign Institutional Investors' (FIIs) reduced its selling in this week as they sold equities worth Rs 188 crore, while Domestic Institutional Investors (DII) continued their buying as they bought equities worth Rs 12,969.03 crore.


The Indian equity indices extended the gains in the second consecutive week ended November 21 amid volatility led by delay in US India trade deal, uncertainty about Fed rate cut after better US non-farm payroll data, falling rupee and soft manufacturing PMI data.

For the week, BSE Sensex index added 669.14 points or 0.79 percent to close at 85,231.92 and Nifty50 rose 158.1 points or 0.61 percent to finish at 26,068.15.

The BSE Large-cap Index ended with marginal gains. Hero MotoCorp, Max Healthcare Institute, Eicher Motors, Bharti Airtel, Siemens were among major gainers, while losers were Vodafone Idea, JSW Energy, Tata Motors Passenger Vehicles, Bajaj Holdings &amp; Investment, Hindustan Zinc, Vedanta, DLF.

BSE Mid-cap Index shed 1 percent dragged by Kaynes Technology India, Supreme Industries, Bharat Dynamics, Star Health &amp; Allied Insurance Company, Tube Investments of India, Kansai Nerolac Paints, however, gainers included Mahindra and Mahindra Financial Services, GMR Airports, 360 One Wam, PB Fintech, LT Technology Services, Hexaware Technologies.

The BSE Small-cap index declined 2 percent with Fischer Medical Ventures, Spectrum Electrical Industries, RIR Power Electronics, Jai Balaji Industries, Websol Energy System, Deccan Cements falling between 15-30 percent, while gainers were Astec Lifesciences, Sri Adhikari Brothers Television, VLS Finance, 5paisa Capital, VL E-Governance and IT Solutions and Narayana Hrudayalaya.

On the sectoral front, Nifty IT index surged 1.6%, Nifty Auto index added 1%, Nifty Bank index rose 0.6%, on the other hand, Nifty Realty index fell 3.7%, Nifty Metal index fell 3.3%, Nifty Media shed 2.4%.

During the week, Bharti Airtel added the most in terms of market value, followed by Reliance Industries, Infosys, Tata Consultancy Services. On the other hand, Tata Motors Passenger Vehicles, Bajaj Finance, Bharat Electronics, lost the most of their market-cap. (Disclaimer: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the soles beneficiary.)

The Foreign Institutional Investors' (FIIs) reduced its selling in this week as they sold equities worth Rs 188 crore, while Domestic Institutional Investors (DII) continued their buying as they bought equities worth Rs 12,969.03 crore.

 The Indian rupee extended the losing streak in the second week, hitting fresh record low of 89.48. The domestic unit ended 74 paise lower at 89.40 per dollar on November 21 against the November 14 closing of 88.74. During the week, the Indian rupee traded in the range of 89.48-88.42.

Market extends gain in second week; rupee at record low

<img class="size-full wp-image-13690853" src="https://images.moneycontrol.com/static-mcnews/2025/11/20251122031022_bse-nsee_nifty-Sensex.jpg" alt="The Indian equity indices extended the gains in the second consecutive week ended November 21 amid volatility led by delay in US India trade deal, uncertainty about Fed rate cut after better US non-farm payroll data, falling rupee and soft manufacturing PMI data." width="1280" height="720" /> The Indian equity indices extended the gains in the second consecutive week ended November 21 amid volatility led by delay in US India trade deal, uncertainty about Fed rate cut after better US non-farm payroll data, falling rupee and soft manufacturing PMI data.

<img class="size-full wp-image-13690854" src="https://images.moneycontrol.com/static-mcnews/2025/11/20251122031213_Sensex_Nifty.jpg" alt="For the week, BSE Sensex index added 669.14 points or 0.79 percent to close at 85,231.92 and Nifty50 rose 158.1 points or 0.61 percent to finish at 26,068.15." width="1280" height="720" /> For the week, BSE Sensex index added 669.14 points or 0.79 percent to close at 85,231.92 and Nifty50 rose 158.1 points or 0.61 percent to finish at 26,068.15.

<img class="size-full wp-image-13690855" src="https://images.moneycontrol.com/static-mcnews/2025/11/20251122031238_market_stocks_sensex_Nifty.jpg" alt="The BSE Large-cap Index ended with marginal gains. Hero MotoCorp, Max Healthcare Institute, Eicher Motors, Bharti Airtel, Siemens were among major gainers, while losers were Vodafone Idea, JSW Energy, Tata Motors Passenger Vehicles, Bajaj Holdings &amp; Investment, Hindustan Zinc, Vedanta, DLF." width="1280" height="720" /> The BSE Large-cap Index ended with marginal gains. Hero MotoCorp, Max Healthcare Institute, Eicher Motors, Bharti Airtel, Siemens were among major gainers, while losers were Vodafone Idea, JSW Energy, Tata Motors Passenger Vehicles, Bajaj Holdings &amp; Investment, Hindustan Zinc, Vedanta, DLF.

<img class="size-full wp-image-13690856" src="https://images.moneycontrol.com/static-mcnews/2025/11/20251122031304_sensex_nifty_sensexdown.jpg" alt="BSE Mid-cap Index shed 1 percent dragged by Kaynes Technology India, Supreme Industries, Bharat Dynamics, Star Health &amp; Allied Insurance Company, Tube Investments of India, Kansai Nerolac Paints, however, gainers included Mahindra and Mahindra Financial Services, GMR Airports, 360 One Wam, PB Fintech, LT Technology Services, Hexaware Technologies." width="1280" height="720" /> BSE Mid-cap Index shed 1 percent dragged by Kaynes Technology India, Supreme Industries, Bharat Dynamics, Star Health &amp; Allied Insurance Company, Tube Investments of India, Kansai Nerolac Paints, however, gainers included Mahindra and Mahindra Financial Services, GMR Airports, 360 One Wam, PB Fintech, LT Technology Services, Hexaware Technologies.

<img class="size-full wp-image-13690858" src="https://images.moneycontrol.com/static-mcnews/2025/11/20251122031336_sensex_stocks_nifty.jpg" alt="The BSE Small-cap index declined 2 percent with Fischer Medical Ventures, Spectrum Electrical Industries, RIR Power Electronics, Jai Balaji Industries, Websol Energy System, Deccan Cements falling between 15-30 percent, while gainers were Astec Lifesciences, Sri Adhikari Brothers Television, VLS Finance, 5paisa Capital, VL E-Governance and IT Solutions and Narayana Hrudayalaya." width="1280" height="720" /> The BSE Small-cap index declined 2 percent with Fischer Medical Ventures, Spectrum Electrical Industries, RIR Power Electronics, Jai Balaji Industries, Websol Energy System, Deccan Cements falling between 15-30 percent, while gainers were Astec Lifesciences, Sri Adhikari Brothers Television, VLS Finance, 5paisa Capital, VL E-Governance and IT Solutions and Narayana Hrudayalaya.

<img class="size-full wp-image-13690860" src="https://images.moneycontrol.com/static-mcnews/2025/11/20251122031412_Nifty_sensex_marketup.jpg" alt="On the sectoral front, Nifty IT index surged 1.6%, Nifty Auto index added 1%, Nifty Bank index rose 0.6%, on the other hand, Nifty Realty index fell 3.7%, Nifty Metal index fell 3.3%, Nifty Media shed 2.4%." width="1280" height="720" /> On the sectoral front, Nifty IT index surged 1.6%, Nifty Auto index added 1%, Nifty Bank index rose 0.6%, on the other hand, Nifty Realty index fell 3.7%, Nifty Metal index fell 3.3%, Nifty Media shed 2.4%.

<img class="size-full wp-image-13690861" src="https://images.moneycontrol.com/static-mcnews/2025/11/20251122031434_sensex_nifty-market.jpg" alt="During the week, Bharti Airtel added the most in terms of market value, followed by Reliance Industries, Infosys, Tata Consultancy Services. On the other hand, Tata Motors Passenger Vehicles, Bajaj Finance, Bharat Electronics, lost the most of their market-cap. (Disclaimer: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the soles beneficiary.)" width="1280" height="720" /> During the week, Bharti Airtel added the most in terms of market value, followed by Reliance Industries, Infosys, Tata Consultancy Services. On the other hand, Tata Motors Passenger Vehicles, Bajaj Finance, Bharat Electronics, lost the most of their market-cap. (Disclaimer: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the soles beneficiary.)

<img class="size-full wp-image-13690867" src="https://images.moneycontrol.com/static-mcnews/2025/11/20251122031520_Sensex_market_Nifty.jpg" alt="The Foreign Institutional Investors' (FIIs) reduced its selling in this week as they sold equities worth Rs 188 crore, while Domestic Institutional Investors (DII) continued their buying as they bought equities worth Rs 12,969.03 crore." width="1280" height="720" /> The Foreign Institutional Investors' (FIIs) reduced its selling in this week as they sold equities worth Rs 188 crore, while Domestic Institutional Investors (DII) continued their buying as they bought equities worth Rs 12,969.03 crore.

<img class="size-full wp-image-13690868" src="https://images.moneycontrol.com/static-mcnews/2025/11/20251122031554_rupee_fall.jpg" alt=" The Indian rupee extended the losing streak in the second week, hitting fresh record low of 89.48. The domestic unit ended 74 paise lower at 89.40 per dollar on November 21 against the November 14 closing of 88.74. During the week, the Indian rupee traded in the range of 89.48-88.42." width="1280" height="720" /> The Indian rupee extended the losing streak in the second week, hitting fresh record low of 89.48. The domestic unit ended 74 paise lower at 89.40 per dollar on November 21 against the November 14 closing of 88.74. During the week, the Indian rupee traded in the range of 89.48-88.42.

Pradeep Gupta, Vice-Chairman at Anand Rathi Group, said the near-term catalysts for equities include potential RBI rate cuts of 25–50 bps in this cycle, a festive-season consumption boost, GST rate cuts benefiting balance sheets from H2 FY26, and strong SIP inflows sustaining domestic liquidity.

Rupee stability and supportive monetary conditions should continue to underpin equity market sentiment, he told Moneycontrol.

On the IT sector, his view is cautiously constructive. He anticipates short-term friction but no structural earnings shock, with conditions likely to improve as uncertainty around US policy settles.

Do you strongly agree with other experts that India’s persistent earnings-downgrade cycle has now stabilised?

Yes, the earnings trajectory appears to have stabilised and turned positive. The corporate earnings environment cannot be characterised as lacklustre—it shows resilience and differentiated performance across market segments.

Does this imply that the risk–reward ratio is turning favourable for India?

The risk-reward is becoming more balanced. While valuation concerns persist in certain pockets and near-term episodic volatility exists due to US policy uncertainty, the domestic backdrop remains resilient. The RBI's raised GDP growth forecast and lowered inflation projection signal policy confidence.

Medium-term fundamentals—supported by domestic demand, tax changes, and regulatory easing—remain constructive. The current environment reflects short-term caution against a favourable longer-term trend.

What are the near-term catalysts for the equity markets? Do you expect the Nifty 50 to reach 27,000 if the India–US trade deal is finalised before the holiday season?

Near-term catalysts include potential RBI rate cuts (25-50 bps in this cycle), festive-season consumption uplift, benefits from GST rate reductions flowing through to balance sheets from H2 FY26, and continued strong SIP inflows supporting domestic liquidity.

Rupee stability and supportive monetary conditions should underpin sentiment. However, I would refrain from providing specific index-level targets like 27,000, as these depend on multiple variables including global risk appetite, actual trade deal terms, and earnings delivery.

Are you confident that next year will be better for IT companies?

The outlook is cautiously constructive. While H-1B visa concerns create headline risk and sentiment pressure, the impact is primarily sentimental rather than structural. Large Indian IT firms have already diversified through near-shore centres, higher offshore proportions, and automation.

Fundamental demand drivers—cloud modernisation, cost optimisation, and AI implementation—remain intact. We expect short-term friction but not a structural earnings shock, with the environment likely improving as uncertainty around US policy normalises.

Do you believe that financials and other rate-sensitive sectors have a strong growth runway ahead and that valuations remain attractive?

Yes, financials appear relatively better positioned. With an easing bias from the RBI (potential 25-50 bps cuts this cycle) and regulatory easing for credit and capital markets, the environment is supportive. Recent measures including higher financing limits and increased caps on loans against shares enhance liquidity.

Financials are among the preferred sectors within the quality-growth framework, especially those with strong balance sheets and consistent earnings power.

Do you expect a 10–11 percent increase in capex spending next year?

Improving domestic demand and easier working capital conditions expected from H2 FY26 do create a foundation for sustained capex.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Daily Voice: Rupee stability and easy monetary conditions to aid equity sentiment, says Anand Rathi’s Pradeep Gupta

Pradeep Gupta of Anand Rathi Group said that while some pockets still face valuation pressures and near-term volatility persists due to US policy uncertainty, the domestic backdrop remains resilient.

Pradeep Gupta, Vice-Chairman at Anand Rathi Group, said the near-term catalysts for equities include potential RBI rate cuts of 25–50 bps in this cycle, a festive-season consumption boost, GST rate cuts benefiting balance sheets from H2 FY26, and strong SIP inflows sustaining domestic liquidity.

Rupee stability and supportive monetary conditions should continue to underpin equity market sentiment, he told Moneycontrol.

On the IT sector, his view is cautiously constructive. He anticipates short-term friction but no structural earnings shock, with conditions likely to improve as uncertainty around US policy settles.

Do you strongly agree with other experts that India’s persistent earnings-downgrade cycle has now stabilised?

Yes, the earnings trajectory appears to have stabilised and turned positive. The corporate earnings environment cannot be characterised as lacklustre—it shows resilience and differentiated performance across market segments.

Does this imply that the risk–reward ratio is turning favourable for India?

The risk-reward is becoming more balanced. While valuation concerns persist in certain pockets and near-term episodic volatility exists due to US policy uncertainty, the domestic backdrop remains resilient. The RBI's raised GDP growth forecast and lowered inflation projection signal policy confidence.

Medium-term fundamentals—supported by domestic demand, tax changes, and regulatory easing—remain constructive. The current environment reflects short-term caution against a favourable longer-term trend.

What are the near-term catalysts for the equity markets? Do you expect the Nifty 50 to reach 27,000 if the India–US trade deal is finalised before the holiday season?

Near-term catalysts include potential RBI rate cuts (25-50 bps in this cycle), festive-season consumption uplift, benefits from GST rate reductions flowing through to balance sheets from H2 FY26, and continued strong SIP inflows supporting domestic liquidity.

Rupee stability and supportive monetary conditions should underpin sentiment. However, I would refrain from providing specific index-level targets like 27,000, as these depend on multiple variables including global risk appetite, actual trade deal terms, and earnings delivery.

Are you confident that next year will be better for IT companies?

The outlook is cautiously constructive. While H-1B visa concerns create headline risk and sentiment pressure, the impact is primarily sentimental rather than structural. Large Indian IT firms have already diversified through near-shore centres, higher offshore proportions, and automation.

Fundamental demand drivers—cloud modernisation, cost optimisation, and AI implementation—remain intact. We expect short-term friction but not a structural earnings shock, with the environment likely improving as uncertainty around US policy normalises.

Do you believe that financials and other rate-sensitive sectors have a strong growth runway ahead and that valuations remain attractive?

Yes, financials appear relatively better positioned. With an easing bias from the RBI (potential 25-50 bps cuts this cycle) and regulatory easing for credit and capital markets, the environment is supportive. Recent measures including higher financing limits and increased caps on loans against shares enhance liquidity.

Financials are among the preferred sectors within the quality-growth framework, especially those with strong balance sheets and consistent earnings power.

Do you expect a 10–11 percent increase in capex spending next year?

Improving domestic demand and easier working capital conditions expected from H2 FY26 do create a foundation for sustained capex.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

The Indian markets snapped two-day gaining streak and ended lower in a volatile session on November 21, with Nifty falling below 26,100 amid selling across the sectors.

On the back of weak global cues, the Indian indices opened lower and witnessed extended selling, however, despite mid-session buying, the market ended near day's low.

At close, the Sensex was down 400.76 points or 0.47 percent at 85,231.92, and the Nifty was down 124 points or 0.47 percent at 26,068.15.

For the week, BSE Sensex added 0.8 percent, and Nifty rose 0.6 percent.

Broader indices underperformed the main indices with BSE Midcap and Smallcap indices falling 1.3 percent each.

After hitting fresh record highs in the previous four sessions, the Nifty Bank index ended 0.81% lower at 58,867.70.

Also Read: <a href="https://www.moneycontrol.com/news/business/markets/how-only-6-stocks-drove-nearly-60-of-nifty-s-1-550-point-rally-13688883.html">Only 6 stocks responsible for nearly 60% of Nifty’s 1,550-point rise</a>

Except FMCG, all other sectoral indices ended in the red with capital goods, realty, PSU Bank, metal down 1 percent each.

Maruti Suzuki, M&amp;M, InterGlobe Aviation, Tata Motors PV, Max Healthcare were among major losers on the Nifty, while gainers included JSW Steel, Hindalco, Tata Steel, Bajaj Finance and HCL Technologies.

Also Read: <a href="https://www.moneycontrol.com/news/business/economy/india-s-business-activity-slows-to-six-month-low-in-november-13689282.html">India’s business activity slows to six-month low in November</a>

In stock-specific action, Hindalco Industries share price slipped nearly 3% on reporting fire at Novelis plant in Oswego, New York, Max Financial Services shares fell 2% post block deal, Kotak Mahindra Bank shares ended marginally lower on stock split at 1:5, JSW Energy shares shed 4% on approval for corporate insolvency resolution plan for Raigarh Champa Rail Infra, Sealmatic India added 9% as shares trade ex-bonus today, M&amp;M shares added nearly 1% after CLSA retain ‘outperform’ rating, IndusInd Bank shares rose 2% on terminating report of capital raising.

More than 80 stocks touched their 52-week high on the BSE, including GMR Airports, Bharti Airtel, Eicher Motors, SBI Life Insurance, Reliance Industries, M&amp;M Financial, among others. <a href="https://www.moneycontrol.com/stocks/marketstats/bsehigh/index.php">Click to View More</a>

On the other hand, more than 220 stocks hit 52-week low, including Thermax, KNR Construction, Vedant Fashions, CG Consumer, Bata India, Clean Science, SKF India, Sheela Foam, United Breweries, Deepak Nitrite, PCBL Chemical, Page Industries, among others. <a href="https://www.moneycontrol.com/stocks/marketstats/bselow/index.php">Click to View More</a>

New Listing

The shares of <a href="https://www.moneycontrol.com/news/business/ipo/capillary-technologies-shares-debut-at-3-discount-to-ipo-price-on-bse-miss-grey-market-estimates-13689199.html">Capillary Technologies made a weak debut</a> on stock markets, listing at 3% discount Rs 560 apiece on BSE. However, the stock finished 5 percent higher at Rs 606.90, up Rs 29.90.

Outlook for November 24

Sudeep Shah, Head - Technical Research and Derivatives at SBI Securities

On the daily chart, Nifty failed to deliver a strong follow-through move after closing above the major resistance level of 26,100 in the previous session, indicating that the buyers failed to defend this level on a closing basis.

The RSI, although cooling off a little, continues to hold above the 60 mark, indicating that bullish momentum is still intact. Meanwhile, the rising MACD histogram bars suggest that the underlying momentum is gradually improving, and the bullish crossover is strengthening, often a sign that dips may attract buying interest.

Looking at key levels, the 26,200–26,250 zone is expected to act as a crucial resistance. A sustained move above 26,250 could drive the index towards 26,500. On the downside, the zone of 25,900-25,850 zone is expected to act as a strong support for the Index.

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities

Nifty slipped into weakness on Friday after a sharp breakout of Thursday and closed the day lower by 124 points. After opening on a weak note, the market made multiple attempts of recovery from the lows for better part of the session. It failed to sustain the recovery attempt and slipped again towards the end and closed at the lows.

A small negative candle has been formed on the daily chart with minor upper shadow. Technically, this market action indicates emergence of profit booking in the market from near the crucial overhead resistance at all-time highs of 26300.

Nifty on the weekly chart formed a reasonable bull candle with long upper shadow near all-time highs. The overall weekly chart pattern indicates bullish outlook for Nifty for the near term amidst volatility.

The overall near-term trend of Nifty remains positive and present short-term weakness could form a new higher bottom around 26000-25900 levels in the next few sessions. We expect bounce back from near the support by next week. Immediate overhead resistance to be watched around 26250-26300.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decision.

Taking Stock: Market snaps 2-day gains; Nifty below 26,100, Sensex down 401 pts

The Indian markets snapped two-day gaining streak and ended lower in a volatile session on November 21, with Nifty falling below 26,100 amid selling across the sectors.

On the back of weak global cues, the Indian indices opened lower and witnessed extended selling, however, despite mid-session buying, the market ended near day's low.

At close, the Sensex was down 400.76 points or 0.47 percent at 85,231.92, and the Nifty was down 124 points or 0.47 percent at 26,068.15.

For the week, BSE Sensex added 0.8 percent, and Nifty rose 0.6 percent.

Broader indices underperformed the main indices with BSE Midcap and Smallcap indices falling 1.3 percent each.

After hitting fresh record highs in the previous four sessions, the Nifty Bank index ended 0.81% lower at 58,867.70.

Also Read: Only 6 stocks responsible for nearly 60% of Nifty’s 1,550-point rise

Except FMCG, all other sectoral indices ended in the red with capital goods, realty, PSU Bank, metal down 1 percent each.

Maruti Suzuki, M&amp;amp;M, InterGlobe Aviation, Tata Motors PV, Max Healthcare were among major losers on the Nifty, while gainers included JSW Steel, Hindalco, Tata Steel, Bajaj Finance and HCL Technologies.

Also Read: India’s business activity slows to six-month low in November

In stock-specific action, Hindalco Industries share price slipped nearly 3% on reporting fire at Novelis plant in Oswego, New York, Max Financial Services shares fell 2% post block deal, Kotak Mahindra Bank shares ended marginally lower on stock split at 1:5, JSW Energy shares shed 4% on approval for corporate insolvency resolution plan for Raigarh Champa Rail Infra, Sealmatic India added 9% as shares trade ex-bonus today, M&amp;amp;M shares added nearly 1% after CLSA retain ‘outperform’ rating, IndusInd Bank shares rose 2% on terminating report of capital raising.

More than 80 stocks touched their 52-week high on the BSE, including GMR Airports, Bharti Airtel, Eicher Motors, SBI Life Insurance, Reliance Industries, M&amp;amp;M Financial, among others. Click to View More

On the other hand, more than 220 stocks hit 52-week low, including Thermax, KNR Construction, Vedant Fashions, CG Consumer, Bata India, Clean Science, SKF India, Sheela Foam, United Breweries, Deepak Nitrite, PCBL Chemical, Page Industries, among others. Click to View More

New Listing

The shares of Capillary Technologies made a weak debut on stock markets, listing at 3% discount Rs 560 apiece on BSE. However, the stock finished 5 percent higher at Rs 606.90, up Rs 29.90.

Outlook for November 24

Sudeep Shah, Head - Technical Research and Derivatives at SBI Securities

On the daily chart, Nifty failed to deliver a strong follow-through move after closing above the major resistance level of 26,100 in the previous session, indicating that the buyers failed to defend this level on a closing basis.

The RSI, although cooling off a little, continues to hold above the 60 mark, indicating that bullish momentum is still intact. Meanwhile, the rising MACD histogram bars suggest that the underlying momentum is gradually improving, and the bullish crossover is strengthening, often a sign that dips may attract buying interest.

Looking at key levels, the 26,200–26,250 zone is expected to act as a crucial resistance. A sustained move above 26,250 could drive the index towards 26,500. On the downside, the zone of 25,900-25,850 zone is expected to act as a strong support for the Index.

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities

Nifty slipped into weakness on Friday after a sharp breakout of Thursday and closed the day lower by 124 points. After opening on a weak note, the market made multiple attempts of recovery from the lows for better part of the session. It failed to sustain the recovery attempt and slipped again towards the end and closed at the lows.

A small negative candle has been formed on the daily chart with minor upper shadow. Technically, this market action indicates emergence of profit booking in the market from near the crucial overhead resistance at all-time highs of 26300.

Nifty on the weekly chart formed a reasonable bull candle with long upper shadow near all-time highs. The overall weekly chart pattern indicates bullish outlook for Nifty for the near term amidst volatility.

The overall near-term trend of Nifty remains positive and present short-term weakness could form a new higher bottom around 26000-25900 levels in the next few sessions. We expect bounce back from near the support by next week. Immediate overhead resistance to be watched around 26250-26300.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decision.

After recording a strong rally in the previous session, Nifty 50 and Sensex erased their gains in trade on November 21, sinking over a half a percent as sentiment was dragged by weak global cues. However, despite the losses, the benchmark indices closed the week on a positive note.

At close, the <a href="https://www.moneycontrol.com/indian-indices/sensex-4.html">Sensex</a> was down 400.76 points or 0.47 percent at 85,231.92, and the Nifty was down 124.00 points or 0.47 percent at 26,068.15.

The volatility index, India VIX, that measures fear in the markets jumped over 10 percent to 13.39 levels, indicating rising caution. Overnight, Wall Street stocks slid in a sharp reversal from an early rally, as technology gains faded after a boost from Nvidia's earnings and U.S. jobs data muddied the labor market outlook.

All sectoral indices traded in the red, barring Nifty FMCG, with metals and realty leading the decline, slipping more than two percent. PSU banks, financial services and media also saw notable weakness, while IT, pharma, consumer durables, oil and gas, and healthcare posted moderate losses. FMCG was the lone gainer, rising slightly, while auto remained flat with a marginal dip.
<div class="x_elementToProof">There is excessive speculative trading in many stocks in India, particularly in some newly listed stocks. "Retail investors better avoid such speculative trades which usually end in tears for the vast majority. The ideal investment strategy now would be to buy fairly-valued high quality stocks on declines and wait patiently," said  VK Vijayakumar, Chief Investment Strategist, Geojit Investments.</div>
<div class="x_elementToProof"></div>
<div class="x_elementToProof">He added that since India has been an under-performer in this year’s AI trade, India will benefit if the AI trade fades and money starts flowing into non-AI stocks in counties like India. But a big crash would impact all markets. "So wait and watch how things unfold."</div>
<div class="x_elementToProof"></div>
<div class="x_elementToProof">

On the upside, immediate resistance is placed near the 26,270 zone—its previous all-time high. A stable close above this threshold may unlock fresh momentum-led buying, potentially propelling the index into new territory. Conversely, any dip below 25,850 is likely to draw renewed buying interest as long as structural supports remain intact.

</div>
<div class="x_elementToProof"></div>
<div class="x_elementToProof">Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.</div>
<div class="x_elementToProof"></div>

Weak global signals drag Nifty, Sensex; India VIX jumps 10%, most sectors in red

After recording a strong rally in the previous session, Nifty 50 and Sensex erased their gains in trade on November 21, sinking over a half a percent as sentiment was dragged by weak global cues. However, despite the losses, the benchmark indices closed the week on a positive note.

At close, the Sensex was down 400.76 points or 0.47 percent at 85,231.92, and the Nifty was down 124.00 points or 0.47 percent at 26,068.15.

The volatility index, India VIX, that measures fear in the markets jumped over 10 percent to 13.39 levels, indicating rising caution. Overnight, Wall Street stocks slid in a sharp reversal from an early rally, as technology gains faded after a boost from Nvidia's earnings and U.S. jobs data muddied the labor market outlook.

All sectoral indices traded in the red, barring Nifty FMCG, with metals and realty leading the decline, slipping more than two percent. PSU banks, financial services and media also saw notable weakness, while IT, pharma, consumer durables, oil and gas, and healthcare posted moderate losses. FMCG was the lone gainer, rising slightly, while auto remained flat with a marginal dip.
There is excessive speculative trading in many stocks in India, particularly in some newly listed stocks. &quot;Retail investors better avoid such speculative trades which usually end in tears for the vast majority. The ideal investment strategy now would be to buy fairly-valued high quality stocks on declines and wait patiently,&quot; said  VK Vijayakumar, Chief Investment Strategist, Geojit Investments.

He added that since India has been an under-performer in this year’s AI trade, India will benefit if the AI trade fades and money starts flowing into non-AI stocks in counties like India. But a big crash would impact all markets. &quot;So wait and watch how things unfold.&quot;



On the upside, immediate resistance is placed near the 26,270 zone—its previous all-time high. A stable close above this threshold may unlock fresh momentum-led buying, potentially propelling the index into new territory. Conversely, any dip below 25,850 is likely to draw renewed buying interest as long as structural supports remain intact.



Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

6 out of 11 years BSE Commodities has given negative returns in November.

Type	R1	R2	R3	PP	S1	S2	S3
Classic	7,772.73	7,837.67	7,874.86	7,735.54	7,670.60	7,633.41	7,568.47
Fibonacci	7,774.55	7,798.65	7,837.67	7,735.54	7,696.52	7,672.42	7,633.41
Camarilla	7,717.16	7,726.52	7,735.89	7,735.54	7,698.44	7,689.08	7,679.71

INDEX CONTRIBUTION - BSE Commodities

Net Contribution

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