Market closes lower, dragged by weakness in IT and Media stocks
By Trendlyne Analysis

 

Nifty 50 closed at 25,884.80 (-74.7, -0.3%), BSE Sensex closed at 84,587.01 (-313.7, -0.4%) while the broader Nifty 500 closed at 23,655.05 (-19.5, -0.1%). Market breadth is balanced. Of the 2,587 stocks traded today, 1,306 showed gains, and 1,230 showed losses.

Indian indices closed lower after switching between losses and gains throughout the day, dragged by weakness in IT and media stocks. The Indian volatility index, Nifty VIX, fell 7.6% and closed at 12.2 points. Siemens Energy closed 2% lower as its Q2FY26 net profit missed Forecaster estimates by 12.8% despite rising 31.4% YoY to Rs 360 crore.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the green. Nifty Consumer Durables and Nifty FMCG closed lower. According to Trendlyne’s Sector dashboard, Telecommunications Equipment emerged as the worst-performing sector of the day, with a fall of 2%.

European indices are trading mixed. Major Asian indices closed mixed. US index futures are trading in the red, indicating a cautious start to the session as investors await producer price and retail sales data. Meanwhile, Dell Technologies, Alibaba, Workday, and HP are set to report their earnings today.

  • Relative strength index (RSI) indicates that stocks like M&M Financial Services, GMR Airport, Federal Bank, and Shriram Finance are in the overbought zone.

  • BL Kashyap & Sons is rising as it secures a Rs 254.2 crore order from DLF Home Developers for civil structural, rough finishing and waterproofing work at Sector 63, Gurugram.

  • Siemens Energy falls as its Q2FY26 net profit misses Forecaster estimates by 12.8% despite rising 31.4% YoY to Rs 360 crore. Revenue increases 27.3% YoY to Rs 2,645.7 crore, helped by improvements in the power transmission and generation segments. It appears in a screener of stocks underperforming their industry price change in the quarter.

  • Spandana Sphoorty Financial is rising as its board of directors appoints Venkatesh Krishnan as the Managing Director (MD) and Chief Executive Officer (CEO) for the next three years, effective November 27.

  • JPMorgan forecasts Brent crude oil prices to decline to below $60 in 2026, sliding to $30 by 2027. The brokerage says that even with steady demand, large market surpluses are likely to build over the next two years, which could push prices down sharply unless producers cut output.

  • Voltas rises as Life Insurance Corp of India acquires a 2% stake (or 67.4 lakh shares) worth Rs 914.9 crore through the open market.

  • A-1 surges to its 5-year high of Rs 2,433.1 per share as it bags an order worth Rs 127.5 crore from Sai Baba Polymer Technologies to supply 25,000 metric tonnes (MT) of automobile grade industrial urea. The company's board also approves increasing its authorised capital to Rs 46 crore from Rs 20 crore via a 3:1 bonus issue and a 1:10 stock split.

  • Authum Investment & Infrastructure's board of directors sets a meeting for November 28 to consider a proposal for a bonus issue of equity shares.

  • Vijay Nirani, MD of TruAlt Bioenergy, highlights the company's plans to set up a 10-crore-litre-per-annum SAF (sustainable aviation fuel) plant in Andhra Pradesh at a capex of Rs 2,200 crore. He adds that the company has resumed full-scale ethanol production after several units were shut for upgrades. With all four existing plants now running and a fifth unit approved, Nirani expects output and revenue to pick up in the second half.

  • Transformers & Rectifiers surges as it secures an order worth Rs 390 crore from Gujarat Energy Transmission Corp (GETCO) to manufacture and supply 53 different types of transformers.

  • Bharat Electronics is rising as it reportedly forms a joint venture (JV) with France's Safran Electronics to manufacture the Highly Agile Modular Munition Extended Range (HAMMER) smart precision guided air-to-ground weapon in India. The system is designed for multiple platforms, including the Rafale Fighter Jet and the Tejas Light-Combat aircraft.

  • Axis Direct maintains its 'Buy' call on Rites, with a target price of Rs 271 per share. This indicates a potential upside of 15.2%. The brokerage remains positive on the stock, driven by a robust order book, a solid balance sheet, strong return ratios, and a healthy dividend payout. It expects the company to deliver a revenue CAGR of 23% over FY26-27.

  • Antique Stock Broking initiates coverage on Adani Ports & Special Economic Zone with a ‘Buy’ rating and a target price of Rs 1,773. The brokerage says the company has evolved from a single-port operator into India’s largest integrated transport utility, with a growing network of 15 domestic and four overseas ports. This scale has enabled the company to consistently outpace the broader port sector.

  • Premier Explosives is rising after securing an international order worth Rs 73.1 crore to supply defence products over the next year.

  • Zen Technologies is rising as it receives an order worth Rs 108 crore from the Ministry of Defence, Government of India, to supply simulators.

  • Sunteck Realty rises as its Dubai unit ends a long-running dispute with partner Grand Valley General Trading. All claims have been withdrawn, and the arbitration is closed.

  • Anil Yadav, CFO of IRB Infrastructure Developers, highlights the company's focus on TOT (toll-operate-transfer) and BOT (build-operate-transfer) projects, anticipating a Rs 20,000 crore opportunity. He projects margin improvement over the next few quarters with toll growth of 18-20%.

  • Paras Defence & Space Technologies is rising as it signs a memorandum of understanding (MoU) with the Inter-University Accelerator Centre (IUAC) to develop a commercial-grade MRI magnet system for manufacturing in India.

  • Surya Roshni is rising as it receives an order worth Rs 105.2 crore from an engineering & infrastructure company. The order is for spiral pipes with a protective three-layer polyethylene coating that prevents corrosion.

  • Dr Reddy’s Laboratories is rising as it secures European Commission approval for AVT03, a biosimilar of Prolia (denosumab), used to treat osteoporosis. The drug has a market size of roughly $1.2 billion in Europe.

  • Jefferies initiates coverage on LG Electronics India with a 'Buy' rating and a target price of Rs 1,980. The brokerage views LG Electronics as a strong play on discretionary consumption, due to its broad product mix. It says the company's leadership across categories, strong premium brand recall, and new launches support its industry-leading margins and strong returns.

  • Ceigall India is rising as it secures an order to build a 400/220 kV substation at Velgaon, scheduled for completion in 24 months. The company will run the project for 35 years and earn Rs 58.5 crore a year.

  • Yatra Online is falling as its Chief Executive Officer (CEO), Dhruv Shringi, tenders his resignation. The board appoints Siddhartha Gupta as the new CEO, effective November 25.

  • Diamond Power Infrastructure is rising as it receives an order worth Rs 276.1 crore from Adani Energy Solutions to supply 7,668 km of AL-59 Zebra Conductors for the Khavda project.

  • Eris Lifesciences rises as its board of directors approves acquiring the remaining 30% stake in Swiss Parenterals, worth Rs 423.3 crore, through a share swap. This acquisition makes Swiss Parenterals a wholly-owned subsidiary of the company.

  • Nifty 50 was trading at 25,957.35 (-2.2, 0.0%), BSE Sensex was trading at 85,008.93 (108.2, 0.1%), while the broader Nifty 500 was trading at 23.,679.45 (4.9, 0.0%).

  • Market breadth is in the green. Of the 2,063 stocks traded today, 1,063 were on the uptrend, and 926 went down.

Riding High:

Largecap and midcap gainers today include Aditya Birla Capital Ltd. (345.45, 4.1%), Phoenix Mills Ltd. (1,731.70, 3.2%) and Federal Bank Ltd. (255.99, 3.2%).

Downers:

Largecap and midcap losers today include Tata Communications Ltd. (1,825.90, -2.9%), Adani Enterprises Ltd. (2,332.90, -2.8%) and Swiggy Ltd. (394.60, -2.5%).

Movers and Shakers

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

Top high volume gainers on BSE included HEG Ltd. (525.40, 5.7%), Craftsman Automation Ltd. (7,021, 5.4%) and Himadri Speciality Chemical Ltd. (440.65, 4.4%).

Top high volume losers on BSE were Elgi Equipments Ltd. (480.50, -3.1%) and V-Guard Industries Ltd. (341.20, -2.3%).

Nuvoco Vistas Corporation Ltd. (355.05, 0.1%) was trading at 66.0 times of weekly average. Pfizer Ltd. (4,995, 0.5%) and Granules India Ltd. (546.15, 2.5%) were trading with volumes 25.3 and 7.9 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

9 stocks took off, crossing 52 week highs, while 15 stocks tanked below their 52 week lows.

Stocks touching their year highs included - Federal Bank Ltd. (255.99, 3.2%), Hero MotoCorp Ltd. (6,081.50, 1.7%) and Mahindra & Mahindra Financial Services Ltd. (360.35, 0.8%).

Stocks making new 52 weeks lows included - Chambal Fertilisers & Chemicals Ltd. (446.70, 1.4%) and Finolex Cables Ltd. (753.40, 0.7%).

14 stocks climbed above their 200 day SMA including Sarda Energy & Minerals Ltd. (489, 3.4%) and Campus Activewear Ltd. (273.80, 2.2%). 21 stocks slipped below their 200 SMA including Rashtriya Chemicals & Fertilizers Ltd. (139.52, -3.4%) and Swan Corp Ltd. (445.55, -3%).

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