The Indian stock market benchmarks, the Sensex and the Nifty 50, ended flat after hitting their all-time highs in intraday trade on Thursday, November 27, on profit booking at higher levels.
The Sensex hit a record high of 86,055.86, rising 446 points, but ended with a modest gain of 111 points, or 0.13%, at 85,720.38. The Nifty 50, too, hit its all-time high of 26,310.45 during the session, but profit booking dragged it to 26,215.55 at close, up 10 points, or 0.04 per cent from the previous close.
The mid and small-cap segments underperformed. The BSE Midcap index closed flat, while the Smallcap index closed 0.38% lower.
Indian stock market: 10 key highlights from the day
1. Why did the Sensex, Nifty 50 pare gains?
The Sensex and the Nifty 50 pared most gains on profit booking at higher levels, tracking weakness in European markets. The UK’s FTSE and France’s CAC were in the red when the Sensex closed.
While the outlook for the domestic market remains bright, experts expect profit booking at higher levels to continue until a trade deal between India and the US is announced and the December-quarter earnings meet expectations.
Investors now await the Q2 GDP numbers to get a sense of the domestic economy’s health. Economists largely expect Q2 FY26 GDP growth to be between 7% and 8%. However, nominal GDP growth, economic growth before adjusting for inflation, may have slowed further.
“Market participants are now keenly watching tomorrow’s GDP print, along with key events such as the US-India deal and the RBI policy meeting. These factors will play a crucial role in determining the near-term direction for equities,” said Vinod Nair, Head of Research, Geojit Investments Limited.
2. Top gainers in the Nifty 50 index today
Shares of Bajaj Finance (up 2.43%), ICICI Bank (up 1.37%), and Shriram Finance (up 1.33%) ended as the top gainers.
3. Top losers in the Nifty 50 index
Shares of Adani Enterprises (down 2.85%), Eicher Motors (down 2.70%), and Eternal (down 1.52%) ended as the top losers in the index. As many as 29 stocks ended lower in the index.
4. Sectoral indices today
Nifty Bank closed 0.35% higher at 59,737.30 after hitting a record high of 59,866.60 during the session. Nifty Financial Services closed with a healthy gain of 0.53%.
On the other hand, the Nifty PSU Bank index slipped 0.58%. Nifty Oil and Gas, Realty, and Consumer Durables indices fell 0.73%, 0.72%, and 0.65%, respectively.
5. Most active stocks in terms of volume
Vodafone Idea (62 crore shares), Patel Engineering (22 crore shares), and Jaiprakash Power Ventures (9 crore shares) were the most active stocks in terms of volume on the NSE.
6. 14 stocks jump more than 10% on BSE
Patel Engineering, Agri-Tech (India), Cinevista, Prostarm Info Systems, Indo Us Bio-Tech, and Davangere Sugar Company were among the 14 stocks that surged more than 10% on the BSE.
7. Advance-decline ratio
Out of 4,327 stocks traded on the BSE, 1,989 advanced, while 2,159 declined. Some 179 stocks remained unchanged.
8. Over 120 stocks hit 52-week highs
As many as 122 stocks, including Reliance Industries, AXIS Bank, Hero MotoCorp, Larsen and Toubro, Punjab National Bank, and Shriram Finance, hit their 52-week highs in intraday trade on the BSE.
9. Over 140 stocks hit 52-week lows
PC Jeweller, Deepak Nitrite, Magellanic Cloud, EPACK Durable, Entero Healthcare Solutions, and Chemplast Sanmar were among the 144 stocks that hit their 52-week lows on the BSE.
10. Nifty’s technical outlook
Sudeep Shah, Head – Technical and Derivatives Research at SBI Securities, the zone of 26,300-26,330 will act as an important hurdle for the index.
“Any sustainable move above the 26,330 level will lead to a sharp upside rally up to 26,500 in the short term. While on the downside, the zone of 26,090-26,060 will act as crucial support for the index,” said Shah.
Shrikant Chouhan, Head – Equity Research, Kotak Securities, said that 26,100 and 26,000 remain strong support levels for the bulls.
“As long as the market trades above these levels, the bullish sentiment is likely to continue. On the higher side, 26,350-26,400 would act as key resistance areas for the bulls. However, below 26,000, the sentiment could change,” said Chouhan.
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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.
