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

Market Today

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.

Index	Prices	Change	Change%
Sensex	75,273.45	1,205.00	+1.63%
Nifty 50	23,306.45	394.05	+1.72%
Nifty Bank	53,708.10	1,102.45	+2.10%

Nifty 50 23,306.45 394.05 (1.72%)

Wed, Mar 25, 2026

• 1D
• 5D
• 1M
• 3M
• 6M
• 1Y
• 2Y

Biggest Gainer	Prices	Change	Change%
Shriram Finance	956.00	52.40	+5.80%

Biggest Loser	Prices	Change	Change%
Tech Mahindra	1,408.50	-24.20	-1.69%

Best Sector	Prices	Change	Change%
Nifty PSU Bank	8581.05	223.50	+2.67%

Worst Sector	Prices	Change	Change%
Nifty IT	29671.30	22.40	+0.08%

Maruti Suzuki, M&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&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&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.

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