Sensex ends 400 points lower, Nifty 50 down 0.5%— 10 key highlights from the Indian stock market today
The Indian stock market benchmarks ended their two-day winning run and closed 0.5% lower on Friday, November 21, pressured by declines in key index finance heavyweights such as HDFC Bank, ICICI Bank, SBI, and Bajaj Finance amid weak global cues.
The Nifty 50 pulled back in today’s session after hitting its 52-week high of 26,246.65 in the previous trade on November 20.
The Sensex slipped 400.76 points, or 0.47%, to close at 85,231.92, while the Nifty 50 ended 124 points, or 0.47%, lower at 26,068.15.
Broader markets were also under pressure, with mid- and small-cap indices underperforming the benchmarks. The NSE Midcap index and Smallcap index declined over 1% each.
Indian stock market: 10 key highlights from the day
1. Why did the Indian stock market fall?
The market benchmarks fell today amid growing concerns over an India-US trade deal. Moreover, fall in the heavyweight banking stocks added to the decline.
“Indian markets turned volatile and settled lower, reflecting the broader decline seen across Asian equities after better-than-expected US non-farm payroll data dampened the expectation of a December rate cut. Profit-booking after a brief two-day uptrend added to the cautious tone, pulling all key indices into the red, with mid- and small-caps facing sharper corrections. Market sentiment was further undermined by a soft manufacturing PMI reading, a weakening INR, and growing worries over potential delays in India–US trade discussions,” said Vinod Nair, Head of Research, Geojit Investments Limited.
2. Top gainers in the Nifty 50 index today
Shares of Maruti Suzuki (up 1,32%), Tata Consumer (up 0.90%), and Max Health (up 0.87%) ended as the top gainers in the Nifty 50 index. Only 17 stocks ended higher in the Nifty 50 index.
3. Top losers in the Nifty 50 index
33 Nifty 50 stocks ended in the red today. Shares of JSW Steel (down 2.91%), Hindalco (down 2.81%), and Tata Steel (down 2.59%) ended as the top losers in the index.
4. Sectoral indices today
Nifty Metal was the top sectoral dragger, down 2.5%, followed by Nifty Realty, down 2%. Among other key indices, Nifty Bank lost 0.8% while Nifty Financial Services shed over 1% and Nifty PSU Bank index fell 1.5%. Meanwhile, Nifty Pharma and Nifty IT losr 0.4% each and Nifty Auto was flat. However, Nifty FMCG was the only sector in the green, up 0.15%.
5. Most active stocks in terms of volume
Vodafone Idea (74.62 crore shares), Groww (18.26 crore shares), and Physicswallah (16.23 crore shares) were the most active stocks in terms of volume on the NSE.
6. Seven stocks jump more than 10% on NSE
Apex Frozen Foods, Astec Lifesciences, Magellanic Cloud, and Nintec Systems were among the seven stocks that surged over 10% on the NSE.
7. Advance-decline ratio
Out of 3,175 stocks traded on the NSE, 784 advanced, while 2,305 declined. Some 86 stocks remained unchanged.
8. Over 40 stocks hit 52-week highs
Bharti Airtel, Reliance Industries, Eicher Motors, and GMR Airports were among the 42 stocks that hit their 52-week highs in intraday trade on the NSE.
9. Nearly 200 stocks hit 52-week lows
As many as 182 stocks, including Thermax, Saregama India, Vedant Fashions, Clean Science, Deepak Nitite, Bata India, and PCBL Chemical, hit their 52-week lows in intraday trade on the NSE.
10. Nifty’s technical outlook
According to Nilesh Jain, Head – Technical and Derivatives Research Analyst (Equity Research), Centrum Broking, “The market has continued to form higher top and higher bottom, with Nifty attempting to surpass its immediate resistance at 26,200. However, profit booking at higher levels prevented it from sustaining above this hurdle, leading to a close below 26,100. Momentum indicators and oscillators remain in buy mode on both the daily and weekly charts.
A phase of consolidation is likely before the next upward move, with Nifty expected to oscillate within a broader range of 25,800–26,200. The 21-DMA, placed near 25,840, is likely to serve as key support if the market pulls back. A breakout above the recent swing high could pave the way for fresh record levels around 26,300. The volatility index, which jumped over 10% and moved past 13 is a cause of concern. It will need to cool off below 12.5 for bulls to firmly regain control.”
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
