Sensex, Nifty Take Breather After Two-Day Record Rally; Auto, Pharma Lead Gains

Domestic benchmark indices took a breather on November 28, 2025, and ended flat-to-negative, after rallying in the previous two sessions, which saw the indices scaling their respective new record highs. The sentiment remained buoyed amid progress in the India-US trade deal.

According to a Reuters report, India expects to finalise a trade agreement with the United States before the end of the year, as most outstanding issues have been settled, the country’s trade secretary said earlier today.

At close, the Sensex was at 85,706.67, down 13.71, or 0.02 per cent, while the Nifty 50 closed at 26,202.95, down 12.60 points, or 0.05 per cent.

The broader market indices, however, saw some profit-booking and ended in the red. The Nifty Smallcap 100 settled 0.27 per cent, Nifty Midcap 100 closed 0.11 per cent, and Nifty 500 ended 0.06 per cent.

Auto, Pharma, FMCG Lead Gains

Among sectors, auto, pharma, and FMCG kept the benchmark indices buoyant. The Nifty Auto gained 0.62 per cent, Nifty Pharma rose 0.59 per cent, and Nifty FMCG advanced 0.23 per cent. Nifty Healthcare and Nifty Media too gained 0.55 per cent each. Nifty Metal rose 0.19 per cent, Nifty PSU Bank surged 0.14 per cent, and Nifty Consumer Durables gained 0.09 per cent.

Nifty Bank closed flat-to-positive at 59,752.70, up 15.40 points, or 0.03 per cent.

On the other hand, the top sectoral drags were Nifty Oil & Gas, which declined 0.69 per cent, Nifty Realty fell 0.19 per cent, and Nifty Financial Services slipped 0.20 per cent.

Nifty 50: Top Gainers & Losers

Among the top gainers in the Nifty 50 index, Mahindra & Mahindra (M&M) rose 2.17 per cent, Adani Enterprises rose 1.20 per cent, Sun Pharma gained 1.20 per cent, Kotak Mahindra Bank advanced 0.71 per cent, and Hindustan Unilever and Eicher Motors rose 0.66 per cent each. Dr Reddy’s Laboratories, Bajaj Auto, Adani Ports, Bajaj Finance, Reliance Industries, State Bank of India (SBI), Tech Mahindra and Cipla were the other top gainers during the day.

Among the top losers, SBI Life Insurance fell 1.72 per cent, HDFC Life Insurance slipped 1.36 per cent, and Power Grid and Shriram Finance fell 1.35 per cent each. Bharti Airtel, Eternal, Infosys, Tata Consumer Products, Cola India, Bajaj Finserv, ONGC, Bharat Electronics, and Nestle India were also among the top losers.

Stock Market Outlook

The National Statistical Office (NSO) is set to release India’s Q2 gross domestic product (GDP) figures later today. Market participants will be tracking this crucial figure to gauge the Reserve Bank of India’s (RBI’s) decision on the rate trajectory at its monetary policy committee (MPC) meeting next month.

According to ratings agency Moody’s, India is projected to clock 7 per cent GDP growth in 2025 and 6.40 per cent in 2026 due to domestic growth and economic resilience amid global disruptions.

Further, the Ministry of Statistics and Programme Implementation (MoSPI) will publish India’s industrial and manufacturing production data for October later today. The Controller General of Accounts will release the government’s budget data for October, and the RBI will provide weekly data on bank credit, deposits, and foreign exchange reserves later today.