Sensex, Nifty Slide for Third Day as Volatility Tightens Grip
- Sensex and Nifty 50 fell for the third straight day amid mixed global cues and expiry-day volatility.
- Broader markets outperformed, with midcap and smallcap stocks ending in the green despite weakness in benchmarks.
- Investor sentiment stayed cautious due to global uncertainty, foreign fund outflows, and profit-taking in IT and FMCG stocks.
Indian equity markets ended lower for the third consecutive session on Tuesday, November 25, as investors remained cautious amid mixed global cues and monthly derivatives expiry. The benchmark indices failed to sustain early stability and slipped in the final hour of trading.
The BSE Sensex declined by 314 points, or 0.37 percent, to close at 84,587. Meanwhile, the Nifty 50 dropped 75 points, or 0.29 percent, finishing the session at 25,884.80. In contrast, broader markets performed slightly better. The BSE Midcap index rose 0.19 percent, while the Smallcap index gained 0.20 percent, suggesting selective buying in beaten-down stocks.
Market experts said volatility remained high due to the derivatives expiry and weak global signals.
Ajit Mishra, Senior Vice President of Research at Religare Broking, said the market extended its recent phase of profit-taking. “After a flat start, the Nifty traded in a narrow range for most of the day but slipped during the final hour. Sector performance was mixed, with realty, metal, and pharma stocks posting gains, while IT and FMCG stocks faced selling pressure”, he said. He added that investor mood stayed cautious due to mixed US economic data, global geopolitical tensions, and subdued foreign institutional investor (FII) flows.
On the sectoral front, metal and pharma stocks found support, while IT and FMCG stocks were among the top losers. Realty stocks also showed mild recovery after recent weakness.
Stocks to Watch
Several companies remained in focus due to major developments:
Bharti Airtel: Indian Continent Investment, a promoter group entity, initiated a block deal worth around Rs 7,100 crore in the telecom major, attracting market attention.
HCL Tech: The IT firm announced a strategic partnership with Amazon Web Services (AWS) to drive digital transformation in the financial services sector using AI-based autonomous solutions.
Zydus Lifesciences: The pharma company received final approval from the US drug regulator (USFDA) for its Verapamil Hydrochloride extended-release tablets, opening doors to fresh growth in the US market.
NCC: The infrastructure company secured a contract from Assam’s Public Works Department for the expansion and upgradation of Gauhati Medical College & Hospital in Guwahati.
United Breweries: The company launched Heineken Silver in New Delhi, with sales beginning November 25. The product will be available across bars and retail outlets in the capital.
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Bank of Maharashtra: The government appointed Prabhat Kiran as Executive Director for a three-year term effective November 24.
Jayant Infratech: The company won an EPC order from Konkan Railway to upgrade an electric traction system from 1x25 kV to 2x25 kV.
Welspun Corp: The firm filed a claim of up to $43.5 million against Wasco entities under international arbitration in London.
Indraprastha Gas: The company signed a joint venture agreement to develop compressed biogas and biofuel projects.
Indian Overseas Bank: The bank will receive an income tax refund of Rs 835 crore for FY23.
Outlook
Analysts believe markets may remain volatile in the near term due to global uncertainty and cautious institutional participation. However, steady domestic growth and improving earnings may continue to support selective stock buying in midcap and smallcap stocks.
