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Trendlyne Marketwatch
21 Nov 2025, 04:02PM
Market closes lower, dragged by a global sell-off
By Trendlyne Analysis

 

Nifty 50 closed at 26,068.15 (-124, -0.5%) , BSE Sensex closed at 85,231.92 (-400.8, -0.5%) while the broader Nifty 500 closed at 23,790.25 (-185.2, -0.8%). Market breadth is moving down. Of the 2,587 stocks traded today, 605 were on the uptick, and 1,934 were down.

Indian indices closed lower, dragged by a global sell-off, following mixed US jobs data. The Indian volatility index, Nifty VIX, rose 12.3% and closed at 13.6 points. Billionbrains Garage Ventures (Groww) closed higher as Q2FY26 net profit jumped 12.2% YoY to Rs 471.3 crore, helped by lower employee benefits expenses.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the red, tracking the benchmark index. BSE Metal and Nifty India Defence were among the worst-performing indices of the day. According to Trendlyne’s sector dashboard, Telecommunications Equipment emerged as the lowest-performing sector of the day, with a fall of 2.3%.

European indices are trading lower, except Russia’s RTSI and MOEX indices, which are trading 1.9% each. Major Asian indices closed in the red. US index futures are trading lower, indicating a cautious start to the session after the US jobs data revealed a 10 bps increase in the unemployment rate to 4.4% in September. Meanwhile, BJ’s Wholesale Club Holdings, BitMine Immersion Technologies and IES Holdings are set to report their results later today.

  • Relative strength index (RSI) indicates that stocks like Jaiprakash Power, GMR Airport, M&M Financial, and Kirloskar Oil Engines are in the overbought zone.

  • Deven Choksey retains its 'Accumulate' rating on Sonata Software, with a target price of Rs 400 per share. This indicates a potential upside of 11.7%. The brokerage believes that steady momentum in healthcare and BFSI, along with AI-led modernisation programs and better delivery efficiencies, will support revenue and margin growth. It expects the company's net profit to grow at a CAGR of 12.9% over FY26-28.

  • Geojit BNP Paribas maintains its 'Buy' call on Avenue Supermarts (DMart), with a target price of Rs 4,650 per share. This indicates a potential upside of 14.6%. The brokerage believes the stock is well positioned for healthy growth, driven by plans for store expansion, particularly in North India, and by DMart Ready’s scale-up through additional fulfilment centres and improvements in delivery timelines. It expects the firm's revenue to deliver a CAGR of 18.6% over FY26-27.

  • Trident plans to invest Rs 2,000 crore in Punjab. It will allocate Rs 1,500 crore to expand terry towel production and upgrade paper facilities in Barnala, and Rs 500 crore to build a new corporate office and capacity-building centre in Mohali. The investment strengthens its presence and is expected to create 2,000 jobs.

  • The Nifty Metal index drops over 2% after the government extends exemptions from mandatory quality control rules for certain steel and stainless-steel grades. This move could lead to higher imports and put pressure on domestic prices.

  • Ddev Plastiks Industries is rising sharply as it plans to expand halogen free flame retardant (HFFR) and polyvinyl chloride (PVC) capacity by 30,000 metric tonnes per annum (MTPA) to 2.7 lakh MTPA at a capex of Rs 50 crore.

  • InterGlobe Aviation (IndiGo) rises as it approves a Rs 7,294 crore investment in its subsidiary IndiGo IFSC through equity and preference shares. The funds will be used to acquire aviation assets, helping the unit own aircraft instead of relying mainly on leases.

  • Kesar India is rising as it sells a land parcel in Mauza Takli, Nagpur, to Godrej Properties' subsidiary, Godrej Skyline Developers, for Rs 115.7 crore.

  • Challa Srishant, Managing Director of CCL Products, maintains his full-year EBITDA growth guidance of around 20%. He notes that recent strong growth was partly due to a low base from earlier plant shutdowns, better product mix, and higher contributions from small packs and freeze-dried coffee. Despite a planned shutdown slowing near-term growth, the overall outlook is positive, with coffee prices expected to ease as production recovers in Brazil and Vietnam.

  • Hindalco falls as a recent fire at Novelis’ Oswego plant on November 20 is expected to hit EBITDA by Rs 830–1,245 crore. The company says the loss is expected to be largely covered by insurance, and Novelis aims to restart the affected unit by year-end.

  • Mahindra & Mahindra is rising as its management guides for a 15-40% revenue growth across its businesses over FY26-30. The company will focus on exports in Oja-branded tractors, global pickup launches in the light commercial vehicle segment (LCV), and new launches in the utility vehicles segment. Management also raises guidance for LCV business revenue to 9% from 7% over FY26-30.

  • Billionbrains Garage Ventures (Groww) is rising sharply as its Q2FY26 net profit jumps 12.2% YoY to Rs 471.3 crore, helped by lower employee benefits expenses. However, revenue declines 7.7% YoY to Rs 1,070.8 crore due to a reduction in active clients. It features in a screener of stocks with the highest FII holdings.

  • India’s November flash composite PMI falls to a six-month low of 59.9 from 60.4 in October. The slowdown was primarily driven by softer factory output, which posted its weakest expansion since May amid fewer new orders. In contrast, the services sector recorded faster growth than in the previous month.

  • Reports suggest that 16 lakh shares (0.5% stake) of Max Financial Services, worth Rs 268 crore, have changed hands in a block deal at an average price of Rs 1,675.7 per share. Max Ventures Investment Holdings is likely the seller in the transaction.

  • Rites rises as it works with African lenders and India’s Exim Bank to help African nations finance retrofitted Indian locomotives. The company is also advancing its Bangladesh coach order, with prototypes due soon and the first set targeted for early next fiscal.

  • JSW Energy is falling as the Committee of Creditors (CoC) approves the resolution plan for the corporate insolvency resolution process of its stepdown arm, Raigarh Champa Rail Infrastructure (RCRIPL).

  • Nuvama Institutional Equities expects earnings for plastic pipe makers to remain under pressure in the coming quarters due to falling PVC prices, rising competition, and soft demand. It adds that a sharper-than-expected drop in PVC prices, driven by the absence of anti-dumping duty and the withdrawal of BIS norms, has further weakened industry conditions. The brokerage has given 'Hold' ratings to Astral and Supreme Industries.

  • Gujarat Pipavav Port rises as Causeway Emerging Markets Fund buys a 0.5% stake, acquiring 25.8 lakh shares for Rs 45.8 crore at Rs 177.6 each through the open market.

  • Capillary Technologies' shares debut on the bourses at a 0.9% discount to the issue price of Rs 577. The Rs 877.5 crore IPO received bids for 53 times the total shares on offer.

  • AWL Agri Business falls sharply as promoter Adani Commodities LLP plans to sell up to a 7% stake via block deals, with an offer size of Rs 2,501 crore and a floor price of Rs 275 per share.

  • Morgan Stanley maintains an 'Overweight' rating on Leela Palaces Hotels & Resorts with a target price of Rs 562. The brokerage notes that the company’s revenue per available room (RevPAR) is growing at three times the pace of the luxury industry and sees further upside. It notes that Leela’s pure luxury positioning supports strong pricing power and forecasts mid- to high-teens EBITDA growth for FY26.

  • Great Eastern Shipping secures contracts to sell a Suezmax crude oil tanker and to buy a secondhand Ultramax dry bulk carrier. The transactions are expected to be completed in H2FY26.

  • Sandur Manganese & Iron Ore receives National Company Law Tribunal (NCLT) approval for the merger of arms Euro Industrial Enterprises, Sandur Sales and Services, Sandur Udyog with Lohagiri Industrials.

  • Bharat Rasayan is rising as its board of directors sets December 12 as the record date for its 1:1 bonus issue and 1:2 stock split.

  • Tata Consultancy Services partners with private equity firm TPG Terabyte Bidco to invest up to Rs 18,000 crore in a joint venture named HyperVault AI Data Centre. The venture builds large AI-focused data centres across India, including liquid-cooled and high-density facilities.

  • Nifty 50 was trading at 26,138.75 (-53.4, -0.2%), BSE Sensex was trading at 85,347.40 (-285.3, -0.3%), while the broader Nifty 500 was trading at 23,913.50 (-62.0, -0.3%).

  • Market breadth is overwhelmingly negative. Of the 2,103 stocks traded today, 673 were gainers and 1,359 were losers.

Riding High:

Largecap and midcap gainers today include IndusInd Bank Ltd. (846.55, 2.1%), Escorts Kubota Ltd. (3,617.50, 1.7%) and Maruti Suzuki India Ltd. (16,010, 1.3%).

Downers:

Largecap and midcap losers today include Bharti Hexacom Ltd. (1,759.30, -4.2%), JSW Energy Ltd. (484.55, -4.0%) and Tube Investments of India Ltd. (2,884.40, -4.0%).

Movers and Shakers

12 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included DCM Shriram Ltd. (1,268.50, 8.0%), Five-Star Business Finance Ltd. (619.40, 4.4%) and Supreme Petrochem Ltd. (656.90, 3.3%).

Top high volume losers on BSE were Bharti Hexacom Ltd. (1,759.30, -4.2%), V-Guard Industries Ltd. (343, -1.4%) and AWL Agri Business Ltd. (274.10, -1.0%).

Alembic Pharmaceuticals Ltd. (901, 0.2%) was trading at 35.9 times of weekly average. Rites Ltd. (246.83, -0.3%) and TBO Tek Ltd. (1,710, 1.9%) were trading with volumes 13.4 and 8.3 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

5 stocks took off, crossing 52 week highs, while 14 stocks hit their 52 week lows.

Stocks touching their year highs included - Bharti Airtel Ltd. (2,162.70, 0.2%), Eicher Motors Ltd. (7,134.50, 0.1%) and Mahindra & Mahindra Financial Services Ltd. (342.55, -1.2%).

Stocks making new 52 weeks lows included - Bata India Ltd. (1,000.40, -0.9%) and SKF India Ltd. (1,960, -1.3%).

3 stocks climbed above their 200 day SMA including The Ramco Cements Ltd. (1,010, 1.3%) and Alembic Pharmaceuticals Ltd. (901, 0.2%). 31 stocks slipped below their 200 SMA including JSW Energy Ltd. (484.55, -4.0%) and Tube Investments of India Ltd. (2,884.40, -4.0%).

 
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