The Indian stock market ended flat on Friday, November 28, as profit booking at higher levels and caution ahead of the release of Q2 GDP data weighed on sentiment, while mixed global cues offered little support.
The Sensex closed 14 points, or 0.02%, lower at 85,706.67, while the Nifty 50 settled at 26,202.95, down 13 points, or 0.05%. The BSE Midcap and Smallcap indices slipped by 0.04% and 0.13%, respectively.
Shares of HDFC Bank, Bharti Airtel and Infosys were among the top drags on the Sensex, while those of Mahindra and Mahindra, SBI, and Kotak Mahindra Bank were among the top supports for the index.
On a weekly basis, the benchmarks logged their third consecutive week of gains, rising around half a per cent.
On a monthly basis, too, they advanced for the third straight month, gaining about 2% each.
Indian stock market: 10 key highlights from the day
1. Why did the Sensex, Nifty 50 end flat?
Domestic market benchmarks ended flat on profit booking at higher levels- a trend experts expect to continue unless an India-US trade deal is announced and December quarter earnings come on the expected lines.
To some extent, caution ahead of the release of key macro data- Q2 GDP and IIP – also contributed to the market’s subdued performance on Friday. Slightly elevated valuations in the mid- and small-cap segments are also limiting gains.
“Indian equities stayed resilient, even as selective profit booking emerged in the broader market after the recent upswing. With Q2 GDP and IIP data due shortly, the overall outlook remains constructive, and the prints are expected to affirm an improving macro trend,” said Vinod Nair, Head of Research, Geojit Investments.
2. Top gainers in the Nifty 50 index today
Shares of Mahindra & Mahindra (up 2.17%), Adani Enterprises (up 1.20%), and Sun Pharma (up 1.20%) ended as the top gainers.
3. Top losers in the Nifty 50 index
Shares of SBI Life Insurance Company (down 1.72%), HDFC Life Insurance Company (down 1.36%), and Power Grid Corporation (down 1.35%) ended as the top losers in the index. As many as 29 stocks ended lower in the index.
4. Sectoral indices today
Nifty Bank ended with a nominal gain of 0.03% at 59,752.70 after hitting a record high of 59,897.50 during the session.
Nifty Auto, Pharma, and Media clocked healthy gains of 0.62%, 0.59%, and 0.55%, respectively, while many sectoral indices suffered losses.
Nifty Oil and Gas fell 0.69%.
5. Most active stocks in terms of volume
Vodafone Idea (45.60 crore shares), Jaiprakash Power Ventures (18.46 crore shares), and PC Jeweller (10.22 crore shares) were the most active stocks in terms of volume on the NSE.
6. Nine stocks jump more than 15% on BSE
Nectar Lifesciences, Motor & General Finance, and 63 Moons Technologies were among the nine stocks that surged more than 15% on the BSE.
7. Advance-decline ratio
Out of 4,312 stocks traded on the BSE, 2,019 advanced, while 2,128 declined. Some 165 stocks remained unchanged.
8. Nearly 120 stocks hit 52-week highs
Reliance Industries, Adani Ports and Special Economic Zone, Cummins India, Hero MotoCorp, Samvardhana Motherson International, and Shriram Finance were among the 117 stocks that hit their 52-week highs in intraday trade on the BSE.
9. Over 160 stocks hit 52-week lows
As many as 161 stocks, including Praj Industries, Page Industries, KNR Constructions, Galaxy Surfactants, and Deepak Nitrite, hit their 52-week lows in intraday trade on the BSE.
10. Nifty’s technical outlook
According to Sudeep Shah, Head – Technical and Derivatives Research at SBI Securities, the 26,300–26,350 zone may act as an important resistance zone for the Nifty 50.
“Any sustained move above 26,350 could drive a fresh leg of rally in the index, potentially taking it higher towards 26,550, followed by 26,800. On the downside, the support is placed in the zone of 26,150-26,100,” said Shah.
(This is a developing story. Please check back for fresh updates.)
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Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
