Sensex Sheds Over 300 Points, Nifty Slips Below 25,900 As Benchmark Indices Extend Declines

Stock Market News: Headline indices extended losses for the third straight day on November 25. The 30-share Sensex shed 313.7 points or 0.37 per cent to finish at 84,587.01. The benchmark Nifty slipped below the 29,000 mark and closed at 25,884.80 down by 74.7 points or 0.29 per cent.

In today’s trade the monthly derivatives expiry day, a weakening Indian rupee and continued FII outflows made the benchmark indices slide lower. The broader market indices finished higher and Nifty IT and the Nifty Auto witnessed declines.

Adani Enterprises and Tata Motors Passenger Vehicles Emerge As Top Drags

Shares of Adani Enterprises Ltd and Tata Motors Passenger Vehicles Ltd (TMPV) led the losers among Nifty 50 constituents on November 25. Shares of Adani Enterprises and TMPV finished 2.91 per cent and 1.59 per cent lower on the NSE. Other stocks which declined today included Trent Ltd and Infosys which ended lower by 1.49 per cent and 1.15 per cent respectively.

Nifty IT and Nifty Auto Decline

On November 25, the Nifty IT and the Nifty Auto indices witnessed significant declines. The Nifty IT index and the Nifty Auto indices closed lower by 0.57 per cent and 0.23 per cent respectively. On the other hand, the Nifty PSU Bank and the Nifty Realty index finished higher by 1.44 per cent and 1.62 per cent respectively. The broader market indices finished the session with gains as the Nifty MidCap 100 and the Nifty SmallCap 100 closed in the green up by 0.36 per cent and 0.19 per cent.

Asian Markets End Mixed

Key Asian stock market indices finished in the green on November 25 with the Hang Seng, KOSPI and Shanghai Composite closing higher by 0.85 per cent, 0.3 per cent and 0.86 per cent. On the other hand Japan’s Nikkei 225 finished the session with a decline of 0.01 per cent.

Primary Market Action

The subscription window for Sudeep Pharma IPO closed on November 25. On the other hand, the SSMD Agrotech India IPO opened for subscription on the SME board.

Market Outlook

Investors are expected to remain focused on the upcoming U.S. inflation print and its effect on the US Federal Reserve’s policy. On the other hand, domestic cues such as domestic institutional investor flows and foreign institutional inflows will continue to affect market sentiment.