NIFTY 500

Benchmark indices Sensex and Nifty posted a rebound on November after two sessions of profit-booking ahead of Nifty monthly F&amp;O expiry and key US economic data. Sensex rose over 300 points from day's low while Nifty is close the reclaiming the psychologically important 26,000-level.

At 10:17 am, the <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-sensex-nifty-50-share-price-gift-nifty-latest-updates-25-11-2025-liveblog-13694074.html">Sensex</a> was up 198.40 points or 0.23 percent at 85,099.11, and the Nifty was up 62.15 points or 0.24 percent at 26,021.65. About 1861 shares advanced, 1468 shares declined, and 159 shares unchanged.

Here are key factors behind market rebound:

1) Value buying

Value buying emerged on November 25 after profit booking was witnessed in the previous two sessions. Metal and real estate sector shares led the gains with the latter snapping five-day losses.

While markets remain broadly positive on improving earnings outlook, investors awaited progress on trade talks with the US to drive a fresh rally to record high levels, reported Reuters on November 25.

Heavyweight Reliance Industries gained 1.5% after Investec reiterated a "buy", saying the oil-to-telecom conglomerate is well placed to benefit from the improving refining business.

Healthcare and pharmaceutical stocks gained in the early trade, with the Nifty Healthcare up 0.5%, snapping the three-day losing run. Dr Reddy's Laboratories stock was the top gainer among the Nifty 50 constituents, up over 1%. The stock rose after closing lower for the previous three sessions, after the company and its subsidiaries received approval from the European Commission for biosimilar AVT03, a biosimilar to Prolia and Xgeva. These medicines are used to treat osteoporosis and prevent cancer related bone issues. Apollo Hospitals Enterprise shares were up slightly after three sessions of fall. The company has opened a smart quaternary care facility in Pune consisting of 400 beds.

2) India VIX eases

India VIX, the volatility index, eased 5.5% to 12.51 on November 25 ahead of Nifty's monthly F&amp;O expiry.

Markets await the November series' derivatives expiry on Tuesday, as well as a US inflation reading due on Wednesday.

"Market focus is on whether foreign investors roll over their short positions or opt to trim them on expiry day," Devarsh Vakil, head of prime research at HDFC Securities told Reuters.

3) RBI Governor's dovish comments

The Indian rupee strengthened for the second consecutive session after slumping to an all-time low on Friday. Local bond yields edged lower, after the Reserve Bank of India's Governor Sanjay Malhotra said there is scope for further rate cuts ahead of a policy meeting next week.

The currency had slumped to all-time low of 89.49 on Friday but has since found its footing on the back of dollar-selling intervention by the Reserve Bank of India on Monday and as dovish remarks from Fed officials boosted rates cut hopes.

On November 25, the rupee was at 89.16 against the US dollar, up 0.1% as of 09:50 am IST.

"At the last MPC (monetary policy committee) meeting in October, it was communicated clearly there is room to cut policy rates," Malhotra told a news channel.

"Since then, the macro-economic data we have received has not indicated that the room to lower rates has decreased. There is certainly room (to lower rates) but whether the MPC takes a call on that in the coming meeting or not, depends on the committee," he added.

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Sensex up 300 pts from day's low, Nifty reclaims 26,000: RBI Governor's dovish comments among key factors behind market rebound

Benchmark indices Sensex and Nifty posted a rebound on November after two sessions of profit-booking ahead of Nifty monthly F&amp;amp;O expiry and key US economic data. Sensex rose over 300 points from day's low while Nifty is close the reclaiming the psychologically important 26,000-level.

At 10:17 am, the Sensex was up 198.40 points or 0.23 percent at 85,099.11, and the Nifty was up 62.15 points or 0.24 percent at 26,021.65. About 1861 shares advanced, 1468 shares declined, and 159 shares unchanged.

Here are key factors behind market rebound:

1) Value buying

Value buying emerged on November 25 after profit booking was witnessed in the previous two sessions. Metal and real estate sector shares led the gains with the latter snapping five-day losses.

While markets remain broadly positive on improving earnings outlook, investors awaited progress on trade talks with the US to drive a fresh rally to record high levels, reported Reuters on November 25.

Heavyweight Reliance Industries gained 1.5% after Investec reiterated a &quot;buy&quot;, saying the oil-to-telecom conglomerate is well placed to benefit from the improving refining business.

Healthcare and pharmaceutical stocks gained in the early trade, with the Nifty Healthcare up 0.5%, snapping the three-day losing run. Dr Reddy's Laboratories stock was the top gainer among the Nifty 50 constituents, up over 1%. The stock rose after closing lower for the previous three sessions, after the company and its subsidiaries received approval from the European Commission for biosimilar AVT03, a biosimilar to Prolia and Xgeva. These medicines are used to treat osteoporosis and prevent cancer related bone issues. Apollo Hospitals Enterprise shares were up slightly after three sessions of fall. The company has opened a smart quaternary care facility in Pune consisting of 400 beds.

2) India VIX eases

India VIX, the volatility index, eased 5.5% to 12.51 on November 25 ahead of Nifty's monthly F&amp;amp;O expiry.

Markets await the November series' derivatives expiry on Tuesday, as well as a US inflation reading due on Wednesday.

&quot;Market focus is on whether foreign investors roll over their short positions or opt to trim them on expiry day,&quot; Devarsh Vakil, head of prime research at HDFC Securities told Reuters.

3) RBI Governor's dovish comments

The Indian rupee strengthened for the second consecutive session after slumping to an all-time low on Friday. Local bond yields edged lower, after the Reserve Bank of India's Governor Sanjay Malhotra said there is scope for further rate cuts ahead of a policy meeting next week.

The currency had slumped to all-time low of 89.49 on Friday but has since found its footing on the back of dollar-selling intervention by the Reserve Bank of India on Monday and as dovish remarks from Fed officials boosted rates cut hopes.

On November 25, the rupee was at 89.16 against the US dollar, up 0.1% as of 09:50 am IST.

&quot;At the last MPC (monetary policy committee) meeting in October, it was communicated clearly there is room to cut policy rates,&quot; Malhotra told a news channel.

&quot;Since then, the macro-economic data we have received has not indicated that the room to lower rates has decreased. There is certainly room (to lower rates) but whether the MPC takes a call on that in the coming meeting or not, depends on the committee,&quot; he added.

Live: Will Nifty's downtrend continue to third session on expiry day? | Opening Bell

Indian markets are expected to open flat to mildly positive, tracking marginal gains in the Gift Nifty and firm cues from global peers. US markets closed higher, and most Asian indices are trading in the green, supported by the rebound in US equities.

The Gift Nifty was trading at 25,980, up 0.05 percent from its previous close.

Indian equity benchmarks closed lower in a volatile session on November 24, with the Nifty slipping below the 26,000 mark. At the close, the Sensex declined 331.21 points, or 0.39 percent, to 84,900.71, while the Nifty fell 108.65 points, or 0.42 percent, to 25,959.50.

A major trigger for the decline was heavy foreign institutional investor (FII) selling. On November 21, FIIs offloaded equities worth Rs 1,766 crore, leading to continued pressure through November 24. Sentiment was further dampened by the Indian rupee weakening to a record low of 89.49 against the US dollar.

Asia-Pacific markets opened higher on Tuesday after a rebound in US technology stocks. Japan’s Nikkei 225 advanced 1.14 percent in early trade, while the Topix gained 0.7 percent. South Korea’s Kospi climbed 2.39 percent, and the Kosdaq added 1.7 percent.

Hong Kong’s Hang Seng Index rose 1 percent, and the Hang Seng Tech Index increased 1.74 percent. The mainland’s CSI 300 was up 0.53 percent.

Overnight, US markets ended higher as equities recovered during the Thanksgiving holiday week, following a sharp pullback in artificial-intelligence-linked stocks. The S&amp;P 500 gained 1.55 percent to close at 6,705.12, while the Nasdaq Composite surged 2.69 percent to 22,872.01—its strongest session since May 12. The Dow Jones Industrial Average added 202.86 points, or 0.44 percent, to finish at 46,448.27.

The rebound extended Friday’s recovery after the New York Federal Reserve President signaled an openness to a potential interest rate cut in December. Despite this bounce, major US indices remain under pressure for the month, as investors reassess lofty valuations in AI-driven stocks that have contributed significantly to 2025’s market gains.

Markets poised for flat to positive open amid global rebound

Indian markets are expected to open flat to mildly positive, tracking marginal gains in the Gift Nifty and firm cues from global peers. US markets closed higher, and most Asian indices are trading in the green, supported by the rebound in US equities.

The Gift Nifty was trading at 25,980, up 0.05 percent from its previous close.

Indian equity benchmarks closed lower in a volatile session on November 24, with the Nifty slipping below the 26,000 mark. At the close, the Sensex declined 331.21 points, or 0.39 percent, to 84,900.71, while the Nifty fell 108.65 points, or 0.42 percent, to 25,959.50.

A major trigger for the decline was heavy foreign institutional investor (FII) selling. On November 21, FIIs offloaded equities worth Rs 1,766 crore, leading to continued pressure through November 24. Sentiment was further dampened by the Indian rupee weakening to a record low of 89.49 against the US dollar.

Asia-Pacific markets opened higher on Tuesday after a rebound in US technology stocks. Japan’s Nikkei 225 advanced 1.14 percent in early trade, while the Topix gained 0.7 percent. South Korea’s Kospi climbed 2.39 percent, and the Kosdaq added 1.7 percent.

Hong Kong’s Hang Seng Index rose 1 percent, and the Hang Seng Tech Index increased 1.74 percent. The mainland’s CSI 300 was up 0.53 percent.

Overnight, US markets ended higher as equities recovered during the Thanksgiving holiday week, following a sharp pullback in artificial-intelligence-linked stocks. The S&amp;P 500 gained 1.55 percent to close at 6,705.12, while the Nasdaq Composite surged 2.69 percent to 22,872.01—its strongest session since May 12. The Dow Jones Industrial Average added 202.86 points, or 0.44 percent, to finish at 46,448.27.

The rebound extended Friday’s recovery after the New York Federal Reserve President signaled an openness to a potential interest rate cut in December. Despite this bounce, major US indices remain under pressure for the month, as investors reassess lofty valuations in AI-driven stocks that have contributed significantly to 2025’s market gains.

Indian benchmark indices, Sensex and Nifty are likely to see a firm opening today, with cues coming from GIFT Nifty, which was trading higher at around 25,992.

Track the latest updates on GIFT Nifty right here on Moneycontrol.

A volatile trading session on November 24 saw the benchmark indices end lower amid selling across sectors barring the IT pack ahead of monthly expiry, with the Nifty 50 index closing below the 26,000 mark.

The market failed to build on to early gains, and following a last-hour selling, Sensex ended down 331.21 points or 0.39 percent at 84,900.71, while the Nifty 50 closed down 108.65 points or 0.42 percent at 25,959.50. Broader market indices underperformed the key indices, with BSE midcap down 0.3 percent while smallcap index shed 0.8 percent.

Here is how financial markets across the globe fared overnight:

GIFT Nifty (Up)

The GIFT Nifty is trading higher at around 25,992, indicating a flat to positive opening for the day.

Asian Equities (Rise)

Asian stocks tracked Wall Street’s gains as confidence grew over a potential Federal Reserve interest-rate cut in December and technology shares rebounded.



US Equities (Up)

Wall Street stocks closed higher on Monday, extending Friday's rally as increased odds that the U.S. Federal Reserve will lower its Fed funds target rate in December helped investors look past concerns about inflated tech valuations.

The Dow Jones Industrial Average rose 202.86 points, or 0.44%, to 46,448.27, the S&amp;amp;P 500 gained 102.13 points, or 1.55%, to 6,705.12 and the Nasdaq Compositegained 598.92 points, or 2.69%, to 22,872.01.



US Bond Yield (Down)

The yield on 10-year Treasuries up marginally at 4.03 percent, while and 2-year Treasuries yeild was down more at 3.48 percent.



Dollar Index (Flat)

The U.S. dollar was steady on Tuesday as investors deliberated the chances of the Federal Reserve cutting interest rates next month after dovish comments from policymakers while the frail yen remained on intervention watch.



Asian Currencies (Gain)

Asian currencies were trading higher in the early Tuesday trade with South Korean Won leading the gainers, followed by Malaysian Ringgit, Japanese Yen, Indonesian Rupiah, Thai Baht, Singapore Dollar.



Crude (Down)

Oil steadied as investors tracked a risk-on mood in wider financial markets, which countered the impact of progress in peace talks over Ukraine that could pave the way for increased crude supplies.



Gold (Down)

Gold steadied, after surging in the previous session due to increased confidence that the US will cut
interest rates next month.



Fund Flow Action

The Foreign Institutional Investors (FIIs) extended their selling on second day on November 24 as they sold equities of Rs 4171 crore, while Domestic Institutional Investors (DIIs) bought equities of Rs 4512 crore, on the same day.



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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.

First Tick: Top global cues to watch in today’s trade

Divam Sharma, the co-founder and fund manager at Green Portfolio PMS, sees a strong chance of a 25-bp cut. "Inflation is reasonably under control, and a measured cut would support growth without jeopardizing financial stability," he said in an interview to Moneycontrol.

According to him, banks look attractive, valuations are reasonable, and rising credit cycles should benefit them but NBFCs offer a compelling growth lever.

In case of GDP, he is also bullish on the second half of FY26, expecting momentum to pick up as demand strengthens further.

Do you see the possibility of a repo rate cut by the RBI in its December meeting?

Yes, we see a strong chance of a 25-bp cut. Inflation is reasonably under control, and the RBI is likely waiting for further clarity before easing again aggressively. A measured cut would support growth without jeopardizing financial stability.

Are you more constructive on banks or NBFCs?

We are optimistic about both, but especially NBFCs. Fundamentals are improving: credit demand is strengthening, asset quality is stabilising, and many NBFCs remain well capitalised.

Banks, too, look attractive, valuations are reasonable, and rising credit cycles should benefit them but NBFCs offer a compelling growth lever. GST rationalisation and increased credit borrowing in the upcoming festive season is going to boost the growth.

Do you expect the GDP numbers for Q2 FY26 to be around 7.5 percent?

We think 7.5 percent is on the higher side, but growth could still be very healthy.

According to polls, estimates cluster around 7.0 -- 7.75 percent. More conservative forecasters like Ind-Ra expect ~7.2 percent for Q2, driven largely by private consumption and government capex. That said, we are bullish on the second half of FY26, expecting momentum to pick up as demand strengthens further.

Do you think a Fed rate cut in December looks uncertain given the labour market slowdown and weak economic data?

It’s plausible but not certain. On one hand, the US labour market is cooling, and inflation appears to be nearing the Fed’s target, giving room for a 25-bp cut. On the other hand, some hesitation has crept in, markets are now pricing the odds of a December cut at only ~33 percent per recent reports. Also, some Fed officials want to proceed cautiously, wary of sticky inflation.

Are you cautiously optimistic on equities considering the current market dynamics?

Yes, cautiously optimistic is our stance. Many of the current headwinds e.g., global uncertainty, rate concerns are already priced in. Looking ahead, improved FII flows, liquidity support from global central banks, and a potential reallocation to emerging markets could benefit India. Domestic consumption tailwinds especially from rural and middle-income segments further strengthen our conviction.

Are you confident that earnings growth will be stronger in Q3 compared to Q2?

We are confident about stronger earnings in Q3 and Q4. By that period, the impact of the recent tariff shock is expected to moderate, allowing businesses to stabilise. Additionally, GST rationalisation and rate adjustments should stimulate demand across key sectors.

Rural growth and domestic consumption are also likely to remain robust, providing a solid boost to revenue, particularly for consumer-facing industries. Furthermore, both corporate and government-led capital expenditure are expected to filter through, supporting momentum in investment-linked sectors and contributing to overall earnings strength.

What could be the triggers that may strengthen the rupee in the coming year?

Key triggers that could support the rupee include higher FII inflows as global liquidity improves and investors renew their focus on India. Strengthening exports, particularly from IT and other high-value service sectors, are likely to enhance foreign exchange earnings as well.

Additionally, increased remittances and investments from NRIs, driven by India’s attractive growth prospects, could further bolster the currency. Favourable domestic macroeconomic conditions, including controlled inflation and stable growth, would also play an important role in reducing external vulnerabilities and supporting the rupee’s stability.

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: Divam Sharma sees high probability of 25 bps repo rate cut in December, says NBFCs offer compelling growth lever

Divam Sharma, the co-founder and fund manager at Green Portfolio PMS, sees a strong chance of a 25-bp cut. &quot;Inflation is reasonably under control, and a measured cut would support growth without jeopardizing financial stability,&quot; he said in an interview to Moneycontrol.

According to him, banks look attractive, valuations are reasonable, and rising credit cycles should benefit them but NBFCs offer a compelling growth lever.

In case of GDP, he is also bullish on the second half of FY26, expecting momentum to pick up as demand strengthens further.

Do you see the possibility of a repo rate cut by the RBI in its December meeting?

Yes, we see a strong chance of a 25-bp cut. Inflation is reasonably under control, and the RBI is likely waiting for further clarity before easing again aggressively. A measured cut would support growth without jeopardizing financial stability.

Are you more constructive on banks or NBFCs?

We are optimistic about both, but especially NBFCs. Fundamentals are improving: credit demand is strengthening, asset quality is stabilising, and many NBFCs remain well capitalised.

Banks, too, look attractive, valuations are reasonable, and rising credit cycles should benefit them but NBFCs offer a compelling growth lever. GST rationalisation and increased credit borrowing in the upcoming festive season is going to boost the growth.

Do you expect the GDP numbers for Q2 FY26 to be around 7.5 percent?

We think 7.5 percent is on the higher side, but growth could still be very healthy.

According to polls, estimates cluster around 7.0 -- 7.75 percent. More conservative forecasters like Ind-Ra expect ~7.2 percent for Q2, driven largely by private consumption and government capex. That said, we are bullish on the second half of FY26, expecting momentum to pick up as demand strengthens further.

Do you think a Fed rate cut in December looks uncertain given the labour market slowdown and weak economic data?

It’s plausible but not certain. On one hand, the US labour market is cooling, and inflation appears to be nearing the Fed’s target, giving room for a 25-bp cut. On the other hand, some hesitation has crept in, markets are now pricing the odds of a December cut at only ~33 percent per recent reports. Also, some Fed officials want to proceed cautiously, wary of sticky inflation.

Are you cautiously optimistic on equities considering the current market dynamics?

Yes, cautiously optimistic is our stance. Many of the current headwinds e.g., global uncertainty, rate concerns are already priced in. Looking ahead, improved FII flows, liquidity support from global central banks, and a potential reallocation to emerging markets could benefit India. Domestic consumption tailwinds especially from rural and middle-income segments further strengthen our conviction.

Are you confident that earnings growth will be stronger in Q3 compared to Q2?

We are confident about stronger earnings in Q3 and Q4. By that period, the impact of the recent tariff shock is expected to moderate, allowing businesses to stabilise. Additionally, GST rationalisation and rate adjustments should stimulate demand across key sectors.

Rural growth and domestic consumption are also likely to remain robust, providing a solid boost to revenue, particularly for consumer-facing industries. Furthermore, both corporate and government-led capital expenditure are expected to filter through, supporting momentum in investment-linked sectors and contributing to overall earnings strength.

What could be the triggers that may strengthen the rupee in the coming year?

Key triggers that could support the rupee include higher FII inflows as global liquidity improves and investors renew their focus on India. Strengthening exports, particularly from IT and other high-value service sectors, are likely to enhance foreign exchange earnings as well.

Additionally, increased remittances and investments from NRIs, driven by India’s attractive growth prospects, could further bolster the currency. Favourable domestic macroeconomic conditions, including controlled inflation and stable growth, would also play an important role in reducing external vulnerabilities and supporting the rupee’s stability.

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.

9 out of 17 years NIFTY 500 has given positive returns in November.

Type	R1	R2	R3	PP	S1	S2	S3
Classic	23,792.32	23,910.08	23,984.97	23,717.43	23,599.67	23,524.78	23,407.02
Fibonacci	23,791.03	23,836.49	23,910.08	23,717.43	23,643.84	23,598.38	23,524.78
Camarilla	23,692.21	23,709.87	23,727.53	23,717.43	23,656.89	23,639.23	23,621.57

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