Closing Bell: Nifty at 26,200, Sensex flat amid volatility; pharma gains, oil & gas drags

Market Close: Nifty above 26,200, Sensex flat amid volatile trade

Indian equity indices ended on a flat note with Nifty around 26,200 on November 28. At close, the Sensex was down 13.71 points or 0.02 percent at 85,706.67, and the Nifty was down 12.60 points or 0.05 percent at 26,202.95.

We wrap up today's edition of the Moneycontrol live market blog, and will be back Monday morning with all the latest updates and alerts. Please visit https://www.moneycontrol.com/markets/global-indices for all the global market action.

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities

The consolidation movement continued in the market for the second consecutive sessions on Friday and Nifty closed lower by 12 points. After opening higher, the market was not able to sustain the highs in the early part and later shifted into a gradual weakness amidst range movement in the mid to later part of the session.

A small negative candle has been on the daily chart with minor upper and lower shadow. Technically, this market signal continuation of choppy movement in the market after a stellar rally of Wednesday. After the formation of long bull candle on Wednesday, Nifty showing a narrow range movement over the last couple of sessions signal possible uptrend continuation pattern.

The underlying uptrend of Nifty remains intact. The present choppy movement could eventually result in another round of sharp breakout soon in the market. The near term upside target to be watched around 26600 and immediate support is placed at 26050.

Abhinav Tiwari, Research Analyst at Bonanza

The Indian market was flat today following previous few day’s positive global cues regarding Russia Ukraine ceasefire developments. Both Nifty and Sensex opened on a flat note and were sideways the entire day and then closed at 26,203 and 85,707 respectively.

The flat close was primarily driven by a wait and watch stance ahead of the release of India’s Q2 FY26 GDP data, and investors resisted to build large positions at lifetime highs without fresh macro confirmation. The market also digested mixed global cues and steady crude prices, while foreign flows remained tentative. Internally, the advance decline ratio on the NSE was nearly balanced.

On the news front, autos and metals outperformed, supported by gains in Mahindra & Mahindra and Adani Enterprises, which underpinned the Nifty Auto and metal spaces amid optimism on domestic demand and infrastructure activity. In contrast, oil & gas dragged, with GAIL sliding over 6% after investors reacted to tariff developments on its pipeline network and concerns around margin pressures, weighing on both the Oil & Gas and PSU linked pockets.

Market expectations now center on Q2 GDP and subsequent high frequency data to validate the growth narrative, a print in line or above the roughly 7.3% consensus could encourage renewed interest in cyclicals, while any disappointment may prolong this phase of consolidation, keeping flows highly sector and stock specific in the near term.

The benchmark indices extended the gains on third consecutive week and month, with BSE Sensex and Nifty rising 0.5 percent each in this week and adding 2% each in the month of November....Read More

Dilip Parmar, Research Analyst, HDFC Securities

Rupee chocked its third straight day of downward trajectory, this slide occurs just before the release of the nation's GDP number, which anticipated to reveal a moderation in the rate of growth compared to the preceding three-month period. Dollar outflows and high month-end greenback demand have exerted persistent downward pressure on the local currency.

In the near term, market sentiment leans toward the dominance of the US dollar. The spot USDINR pair faces an upper bound resistance at 89.70 and finds its support at 88.80.

Ajit Mishra – SVP, Research, Religare Broking

Markets traded lackluster on Friday and ended almost unchanged, taking a breather after hitting a fresh record high. On the index front, the Nifty edged slightly higher in early trade, but a mixed trend across heavyweight stocks kept the momentum in check throughout the session, eventually closing flat at the 26,205 level. Sectoral performance was uneven, with auto and pharma posting gains while energy and financials ended in the red. Market breadth remained subdued as both mid-cap and small-cap indices closed largely unchanged.

The strong rebound in global markets, supported by expectations of continued liquidity, is aiding the ongoing momentum in domestic equities. Additionally, improving geopolitical developments are offering further comfort to investors.

We maintain a positive outlook and recommend continuing with a “buy on dips” approach as long as the Nifty holds above the 25,900-support zone, with a potential upside target near 26,500.

With sectoral participation shifting on a rotational basis, traders should stick to steady performers and trail stop losses as trades move in their favors. For fresh entries, it is advisable to remain selective and focus on large-cap and stronger mid-cap names, while staying cautious in pockets that appear overbought or vulnerable.

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

Nifty traded sideways throughout the day and formed an extremely thin-body candle with minor shadows on either side, indicating indecision. The index has not been able to deliver a strong follow-through move after hitting its all-time high, suggesting hesitation among buyers near the higher levels for the past two sessions.

After giving a downward-sloping trendline breakout on the weekly chart in mid-October, Nifty moved higher and later retested the trendline zone in early November, which then acted as support. Since that retest, the index has staged a steady recovery and has now closed in the green for three consecutive weeks.

RSI has turned flat over the past couple of sessions and the MACD slope has also moderated, indicating a brief pause in momentum. A strong follow-through move above the recent record highs could open the doors for a fresh leg of rally in the index.

Bank Nifty formed a Doji candle on the daily chart, signalling indecision among market participants. Following the trendline breakout on the weekly chart in early October, the index has moved up sharply, outperforming the Nifty index. The overall price structure remains positive with room for further upside. On the weekly chart, both RSI and ADX are in a rising mode. This typically indicates strengthening momentum and increasing trend strength, reinforcing the bullish undertone for the index

On the sectoral front, Nifty Auto and Pharma emerged as the top two sectoral gainers, gaining in the range of 0.6%. On the other hand, Nifty CPSE & Nifty Oil & Gas ended as the top sectoral losers. On the stock front, M&M and Adani Enterprise ended up as the top gainers, while HDFC Life & SBI Life emerged as the top two losers.

The Mid Cap Index staged a strong rebound candle from its 20-day EMA a couple of sessions ago but has moved sideways since, showing no strong follow-through. A decisive breakout above 61,250–61,300 could unlock further upside momentum.

The Small Cap Index saw sharp bounce from its 200-day EMA on 26th Nov but has since slipped back to the same crucial support zone. It must hold above 17,800–17,700 for the trend to stabilize and for any meaningful upward reversal to unfold.

The market breadth weakened slightly with the advance-decline ratio skewed in the favour of bears as a total of 313 stocks out of the Nifty 500 universe ended in red.

Nifty View

Looking at key levels, the zone of 26,300–26,350 zone is likely to act as an important resistance zone for the Index. Any sustained move above 26,350 could drive a fresh leg of rally in the index, potentially taking it higher towards 26550, followed by 26800. On the downside, the support is placed in the zone of 26,150-26,100.

Bank Nifty View

Looking at key levels, the zone of 59,900–60,000 zone is likely to act as an important resistance zone for the Index. Any sustained move above 60,000 could potentially taking the price higher towards 60,500, followed by 61,000. On the downside, the support is placed in the zone of 59,500-59,400.

Vatsal Bhuva, Technical Analyst at LKP Securities

Nifty closed the week forming a small candlestick on the weekly chart, indicating hesitation at higher levels. On the hourly chart, RSI has drifted into a bearish crossover with lower tops, suggesting bulls may take a breather at these levels. However, support remains visible at 26100 and 26000, while resistance is placed at 26300.

The technical setup suggests the index may trade in a range, with immediate support at 26100 and resistance around 26300–26350 levels. Closing above 26300 levels will open the door for 26600 levels.

Market This Week

#1 Market gains for 3rd straight week amid a rangebound trade

#2 Broader markets outperform Sensex & Nifty led by financials

#3 Nifty & Sensex rise 0.6% each, 30 of 50 Nifty stocks post gains

#4 Nifty Bank gains over 1.5% with most constituents moving higher

#5 Pharma & PSU Bank gain the most while PSU is top losing index

Vinod Nair, Head of Research, Geojit Investments

Indian equities stayed resilient, even as selective profit booking emerged in the broader market after the recent upswing. Sentiment was buoyed by progress in India–US trade discussions, while strong performance in large-cap sectors, Auto, Financials, and Pharma helped maintain positive momentum.

Supportive global cues, including a continued tech-driven rally and rising expectations of a Fed rate cut, further strengthened investor confidence.

With Q2 GDP and IIP data due shortly, the overall outlook remains constructive, and the prints are expected to affirm an improving macro trend.

Currency Check | Rupee closes 15 paise lower

Indian rupee ended 15 paise lower at 89.45 per dollar on Friday against previous close of 89.30.

Market Close | Nifty at 26,200, Sensex flat amid volatility; pharma gains, oil & gas drags

Indian equity indices ended on a flat note with Nifty around 26,200 on November 28.

At close, the Sensex was down 13.71 points or 0.02 percent at 85,706.67, and the Nifty was down 12.60 points or 0.05 percent at 26,202.95. About 1945 shares advanced, 2023 shares declined, and 152 shares unchanged.

BSE Midcap and smallcap indices ended on a flat note.

On the sectoral front, pharma, media, auto rose 0.5-1%, while power, oil & gas, telecom shed 0.5-1% each.

Adani Enterprises, M&M, Adani Ports, Sun Pharma, HUL were among top gainers on the Nifty, while losers were SBI Life Insurance, Shriram Finance, HDFC Life, Power Grid Corp and Bharti Airtel.

Sensex Today | Praj Industries, Page Industries, SKF India, among others hit 52-week low

Bandhan Bank has grappled with higher bad loans in its micro-loan book over the last few quarters, forcing it to set aside more funds for potential bad loans...Read More

Sensex Today | NCLT approves one-time settlement between NSEL & traders

The one-time settlement brings closure of all legal cases against NSEL & 63 Moons.

63 Moons is the parent company of NSEL.

Sensex Today | Nifty Pharma index extend gains on fourth day

Sensex Today | Nomura initiates ‘buy’ rating on Anthem Biosciences, target price at Rs 740

#1 Company well-positioned to benefit from the CRDMO opportunity

#2 Expect sales & earnings growth of 14 percent/18 percent/22 percent & 27 percent/21 percent/26 percent respectively in FY26–28

#3 Revenue growth may slow down in the near-term due to a high base

#4 Expect acceleration in FY27-28 driven by steady growth in base products & new launches

#5 New launches, capacity expansion & strong end-market demand support positive medium-term outlook

In its interim order dated January 3, 2025, SEBI accused Salgaocar of benefiting from advance knowledge of large trade orders and barred him, Parekh, and others from trading. ...Read More

Markets@3| Sensex, Nifty trade flat

The Sensex was up 4.39 points or 0.01 percent at 85,724.77, and the Nifty was down 10.55 points or 0.04 percent at 26,205.00. About 1749 shares advanced, 1991 shares declined, and 147 shares unchanged.

Sensex Today | Voltamp Transformers gets order of Rs 85 crore

The company has received Letter of Intent from Gujarat Energy Transmission Corporation Limited, for Rs 85.05 crore for supply of various ratings of Power Transformers.

Sensex | Gold poised for fourth monthly gain on Fed rate-cut optimism

Gold edged higher, on track for a fourth monthly gain, on heightened expectations for another interest- rate cut in the US.

Bullion was near USD 4,160 an ounce on Friday, up more than 2 percent for the week. A series of comments by Federal Reserve officials

and the release of delayed economic data have supported the case for lower borrowing costs, which typically benefit gold as it

doesn’t pay interest.

India generates nearly 20% of the world’s data, yet hosts only about 3% of global data centre capacity...Read More

Sensex Today | Rupee hits fresh record low

The rupee falls to a fresh record low of 98.4863 against the dollar, underperforming most of its peers in Asia on Friday.

Indian rupee is trading at 89.4837 per dollar against previous close of 89.30.

Sensex Today | Rail Vikas Nigam gets LOA from East Coast Railway

The company has received the Letter of Acceptance (LOA) from East Coast Railway for a project worth Rs 9.64 crore. The project involves the supply, installation, testing, and commissioning of an IP-based video surveillance system for rolling stock of ECoR.

Sensex Today | Appellate Tribunal for Electricity to next hear the market coupling case on January 6

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Sensex Today | Ceigall India emerges as lowest bidder for MP Road Dvpt Corp proj worth Rs 1,809 crore

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Markets@2 | Sensex, Nifty flat

The Sensex was up 24.91 points or 0.03 percent at 85,745.29, and the Nifty was down 2.45 points or 0.01 percent at 26,213.10. About 1751 shares advanced, 1940 shares declined, and 147 shares unchanged.

Sensex Today | European indices trade flat

Sensex Today | Adani Group will acquire 72.8% stake in Flight Simulation Technique Centre

Adani Group will acquire a 72.8% stake in Flight Simulation Technique Centre (FSTC) for Rs 820 crore.

FSTC operates 11 advanced full-flight simulators and 17 training aircraft, providing training ranging from commercial pilot licences to type ratings, recurrent training, and specialised skill courses, reports PTI.

Sensex Today | SEPC wins Rs 85 crore EPC contract in UAE

SEPC has secured an order for AED 35,000,000 (~ Rs 85 crore) through its UAE arm, SEPC FZE, for a strategic energy infrastructure upgrade project in the United Arab Emirates.

Awarded by Lauren Middle East Engineering Construction L.L.C., the contract involves installation of a new Emergency Shutdown (ESD) system, Nitrogen Generation Unit, and advanced Public Address & General Alarm (PAGA) System at Mubarraz Island, under the Abu Dhabi Oil Company (ADOC) development framework.

The project will run until December 2026, marking a significant expansion of SEPC’s energy and process-industry capability footprint in the Middle East region.

Sensex Today | Jefferies retains ‘buy’ rating on Reliance Industries, target price at Rs 1,785

#1 All three businesses are delivering double-digit growth from the start of FY26

#2 Jio’s impending IPO could trigger tariff intervention in the near term

#3 FMCG business could get better recognition & higher valuation in 2026

#4 New energy & data center partnership with google provides additional upside

#5 Stock trades below its long-term mean EV/EBITDA, keeping risk-reward attractive

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Sensex Today | Jefferies prefer mid-sized IT names

#1 Nifty IT has lagged Nifty by 25 percent in CYTD25 due to a 16 percent PE derating from macro & AI uncertainty

#2 Stock moves have closely followed EPS changes, with mid-sized IT firms doing better

#3 Growth outlook is uncertain & management sees only a gradual recovery, putting FY27 estimate at risk

#4 Expect PE multiples to stay capped

#5 Prefer mid-sized IT names: Coforge, Hexaware & Sagility

#6 Among large IT Firms, prefer Infosys & HCLTech

Sensex Today | Emkay Global downgrades Gail India to 'add' from buy', target Rs 195

GAIL India was quoting at Rs 175.45, down Rs 8.35, or 4.54 percent.

It has touched an intraday high of Rs 175.55 and an intraday low of Rs 171.80.

It was trading with volumes of 2,448,398 shares, compared to its five day average of 703,987 shares, an increase of 247.79 percent.

In the previous trading session, the share closed down 0.76 percent or Rs 1.40 at Rs 183.80.

The share touched a 52-week high of Rs 213.30 and a 52-week low of Rs 150.60 on 06 December, 2024 and 04 March, 2025, respectively.

Currently, the stock is trading 17.74 percent below its 52-week high and 16.5 percent above its 52-week low.

Market capitalisation stands at Rs 115,360.12 crore.

Sensex Today | HSBC maintains 'reduce' rating on Power Grid

#1 CERC paper proposes shifting connectivity from projects without LoAs/PPAs to other projects

#2 Shows regulators want better use of limited transmission capacity instead of building more

#3 Maintain reduce on PowerGrid, as these steps could ease constraints & limit overbuilding

Sensex Today | Mahindra and Mahindra Financial Services shares hit 52-week high

Mahindra and Mahindra Financial Services was quoting at Rs 368.90, up Rs 5.15, or 1.42 percent.

It has touched a 52-week high of Rs 370.60.

It has touched an intraday high of Rs 370.60 and an intraday low of Rs 361.90.

It was trading with volumes of 253,606 shares, compared to its five day average of 139,511 shares, an increase of 81.78 percent.

In the previous trading session, the share closed up 3.94 percent or Rs 13.80 at Rs 363.75.

Market capitalisation stands at Rs 51,276.04 crore.

Mahindra & Mahindra Financial Services has hit a new 52-week high, backed by strong upward momentum and consistent  outperformance over the past year. The stock is now trading above all key moving averages and has delivered nearly 37% returns in 12 months, signalling sustained investor confidence and sectoral strength.

Sensex Today | Adani group stocks trade mostly higher; Adani Enterprises rises nearly 3%

Sensex Today | Zee Entertainment Enterprises share price rises most in 14 weeks

Zee Entertainment Enterprises was quoting at Rs 102.30, up Rs 4.15, or 4.23 percent. It has touched an intraday high of Rs 104.50 and an intraday low of Rs 97.35.

It was trading with volumes of 737,277 shares, compared to its five day average of 215,546 shares, an increase of 242.05 percent.

In the previous trading session, the share closed up 0.36 percent or Rs 0.35 at Rs 98.15.

The share touched a 52-week high of Rs 151.70 and a 52-week low of Rs 89.29 on 04 July, 2025 and 04 March, 2025, respectively.

Currently, the stock is trading 32.56 percent below its 52-week high and 14.57 percent above its 52-week low.

Market capitalisation stands at Rs 9,826.11 crore.

Hindustan Zinc share price: Hindustan Zinc is the largest producer of silver in India, and produces refined silver with a minimum 99.9 percent purity...Read More

Sensex Today | Godrej Properties & Lodha likely to deliver strong launches: Jefferies

#1 New launch momentum is picking up in November after a festive-season slowdown in Oct

#2 Listed developers had a strong start to the year, expect 25 percent pre-sales growth in FY26

#3 Godrej Properties & Lodha likely to deliver strong launches & sales in H2FY26, both are key picks

#4 Realty index is down 20 percent from its 2024 peak & valuations now offer good value

Markets@1 | Sensex, Nifty trade higher

The Sensex was up 77.48 points or 0.09 percent at 85,797.86, and the Nifty was up 11.70 points or 0.04 percent at 26,227.25. About 1733 shares advanced, 1878 shares declined, and 174 shares unchanged.

The VIX had touched 13.64 on November 21 before sliding steadily to 11.1, marking its sharpest weekly drop since May. ...Read More

Sensex Today | Sundaram-Clayton acquires 11.63% stake of Navia Two Power

The company has acquired 11.63% of the equity share capital of Navia Two Power for a total consideration of Rs 1,16,280.

Navia is special-purpose vehicle for the purpose of owning and operating a Captive Power Plant, in terms of the regulatory requirement for captive power consumption under electricity laws.

Sensex Today | Dilip Buildcon gets LoA worth Rs 879 crore

Dilip Buildcon has received the Letter of Acceptance (LOA) from the National Highways Authority of India for the project 4 laning of Paramakudi to Ramanathapuram section in Tamil Nadu on Hybrid Annuity Mode (Project Length - 46.665 km)” and the value of the project is Rs 879.30 crore.

Sensex Today | Wipro in multi-year engagement with Odido Netherlands BV

The AI-powered technology services and consulting company announced a multi-year engagement with Odido Netherlands BV to transform its IT landscape and enhance customer experience across its enterprise and consumer segments.

Wipro was quoting at Rs 250.10, up Rs 0.70, or 0.28 percent.

It has touched an intraday high of Rs 252.15 and an intraday low of Rs 249.35.

It was trading with volumes of 201,133 shares, compared to its five day average of 379,538 shares, a decrease of -47.01 percent.

In the previous trading session, the share closed down 0.30 percent or Rs 0.75 at Rs 249.40.

The share touched a 52-week high of Rs 324.55 and a 52-week low of Rs 225.05 on 23 January, 2025 and 07 April, 2025, respectively.

Currently, the stock is trading 22.94 percent below its 52-week high and 11.13 percent above its 52-week low.

Market capitalisation stands at Rs 262,215.44 crore.

Sensex Today | SEBI moves NCLT, flags preliminary investigation findings against Jindal Poly 

#1 Preliminary investigation findings on write-off of investments in group company

#2 SEBI claims investment write off caused `760 cr in loss, wasn’t disclosed to shareholders

Jindal Poly Films was quoting at Rs 532.15, up Rs 9.50, or 1.82 percent.

It has touched an intraday high of Rs 546.25 and an intraday low of Rs 515.15.

It was trading with volumes of 3,014 shares, compared to its five day average of 1,343 shares, an increase of 124.42 percent.

In the previous trading session, the share closed down 0.87 percent or Rs 4.60 at Rs 522.65.

The share touched a 52-week high of Rs 1,145.50 and a 52-week low of Rs 506.00 on 10 December, 2024 and 28 August, 2025, respectively.

Currently, the stock is trading 53.54 percent below its 52-week high and 5.17 percent above its 52-week low.

Market capitalisation stands at Rs 2,330.09 crore.

Sensex Today | Yatharth Hospital drops most in a year on block deal

4.4 lakh shares (0.5 percent equity) worth Rs 32 crore of Yatharth Hospital and Trauma Care Services change hands at Rs 719.6/share via block deal.

Yatharth Hospital and Trauma Care Services was quoting at Rs 706.80, down Rs 64.05, or 8.31 percent.

It has touched an intraday high of Rs 768.05 and an intraday low of Rs 702.80.

It was trading with volumes of 679,193 shares, compared to its five day average of 13,987 shares, an increase of 4,755.75 percent.

In the previous trading session, the share closed down 0.36 percent or Rs 2.75 at Rs 770.85.

The share touched a 52-week high of Rs 843.00 and a 52-week low of Rs 345.35 on 08 October, 2025 and 03 March, 2025, respectively.

Currently, the stock is trading 16.16 percent below its 52-week high and 104.66 percent above its 52-week low.

Market capitalisation stands at Rs 6,810.33 crore.

Results Today | Lenskart Solutions, Parsvnath Developers,among others to declares earnings today

Lenskart Solutions, Parsvnath Developers, and Onix Solar Energy will release their quarterly earnings on November 29.