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Trendlyne Marketwatch
28 Nov 2025, 04:00PM
Market closes lower, dragged down by Hardware Technology and Telecommunications Equipment sectors
By Trendlyne Analysis

 

 

Nifty 50 closed at 26,202.95 (-12.6, -0.1%), BSE Sensex closed at 85,706.67 (-13.7, 0.0%) while the broader Nifty 500 closed at 23,933.20 (-14.6, -0.1%). Market breadth is in the red. Of the 2,594 stocks traded today, 1,161 were on the uptick, and 1,383 were down.

Indian indices closed lower after erasing gains in the morning session. The Indian volatility index, Nifty VIX, declined 1.4% and closed at 11.6 points. Life Insurance Corp of India (LIC) bought 37.8 lakh shares (~2% stake) worth Rs 702.7 crore in ACC through the open market. This deal takes LIC's stake in ACC to 10.6% from 8.6%.

Nifty Midcap 100 & Nifty Smallcap 100 closed lower, following the benchmark index. BSE Auto and Nifty Auto were among the top index gainers today. According to Trendlyne’s Sector dashboard, Pharmaceuticals & Biotechnology emerged as the best-performing sector of the day, with a rise of 0.6%.

Asian indices closed mixed, while European indices are trading higher. US index futures traded higher, indicating a positive start to the trading session. Markets are now pricing in over an 80% probability of a 25 bps Fed rate cut at the December 9–10 meeting, a sharp jump from about 40% just a week earlier, according to CME FedWatch. The Fed will have additional inflation data to review before its December meeting, as the September PCE price index data, originally due this week, will now be released on December 5.

  • Money flow index (MFI) indicates that stocks like Hero MotoCorp, Coromandel International, GMR Airports, and M&M Financial are in the overbought zone.

  • Emcure Pharmaceuticals discloses that Maharashtra GST officials conducted a search and seizure at its Mumbai premises. The action was carried out in connection with suspected tax discrepancies identified by the department.

  • Reliance Industries rises to a new 52-week high of Rs 1,581.3 as its joint venture, Digital Connexion, reportedly signs a memorandum of understanding (MoU) with the Andhra Pradesh government to invest Rs $11 billion (~Rs 98,416 crore). The JV will set up a 1 GW, AI-native data centre campus in Visakhapatnam.

  • Venkatraman Narayanan, MD of Happiest Minds Technologies, says the company’s AI business reached breakeven six months ahead of schedule. He sees a potential pipeline of $30–50 million from AI-focused deals over the coming years. Narayanan adds that AI currently contributes 2.7% of the company’s revenue, and the firm aims to scale the core AI business to 5% in the near future.

  • Ceigall India surges as it secures an order worth Rs 1,089 crore from Madhya Pradesh Road Development Corp (MPRDC) to build the Indore–Ujjain greenfield access-controlled four-lane highway.

  • Eureka Forbes surges to its 52-week high of Rs 668.3 as it aims to double revenue to Rs 5,500 crore and improve EBITDA margin by 330 bps to 15% by FY30 from FY25, supported by category growth, premiumisation, and its digital service platform. The company's management highlighted its expansion beyond water purifiers into a wider health and hygiene portfolio.

  • ICICI Securities retains its 'Buy' call on Premier Energies, with a target price of Rs 1,320 per share. This indicates a potential upside of 35%. The brokerage remains confident on the stock, given its ability to scale its capacity, integrated ecosystem and the strong demand for solar power. It expects the firm to deliver a revenue CAGR of 46.2% over FY26-27.

  • Vikas Gupta, MD of PG Electroplast, remains optimistic about the company’s outlook. He says the washing machine division grew 40% YoY in Q2, while the room AC segment has a strong order pipeline and should deliver a solid Q3. Gupta is confident of achieving the Rs 5,800-crore revenue target, with about Rs 3,500 crore coming from ACs, and expects room AC prices to rise 11–12% in December.

  • Dilip Buildcon is rising as it receives an order worth Rs 879.3 crore from the National Highways Authority of India (NHAI) for four-laning the Paramakudi–Ramanathapuram section of National Highway 49 in Tamil Nadu.

  • The Supreme Court (SC) orders a Rs 520.8 crore refund to Lodha Developers, affirming the company as the bonafide successful resolution applicant for V Hotels. Lodha had deposited the amount as security against claims related to V Hotels.

  • Ashoka Buildcon is falling sharply as the National Highways Authority of India (NHAI) temporarily bars the company from its tenders for a month. NHAI also issues a show-cause notice to Ashoka Buildcon regarding the construction of a bridge from Aroor to Thuravoor Thekku section of NH-66, where two precast girders fell, resulting in the fatality of a commercial vehicle driver.

  • Goldman Sachs upgrades One97 Communications (Paytm) to a 'Buy' rating and a higher target price of Rs 1,570. The brokerage says the regulatory overhang that pressured the stock through 2024–25 is beginning to ease, enabling Paytm to regain momentum in its core payments business. It expects revenue growth of over 20% in a more stable policy environment, with additional upside if payment-charge regulations become more favourable or if Paytm captures more market share.

  • Bandhan Bank is rising as its board approves the sale of non-performing assets worth Rs 3,212.2 crore and written-off loan portfolios worth Rs 3,719.1 crore through a mix of Swiss Challenge bidding and auction processes.

  • GAIL falls sharply after the Petroleum and Natural Gas Regulatory Board (PNGRB) issues transmission tariff revisions, raising tariffs 12% to Rs 65.7 per million metric british thermal unit (MMBtu). The hike is lower than the 33% increase GAIL sought and the 20% increase expected by the street.

  • Voltamp Transformers is rising sharply as it secures an order worth Rs 85.1 crore from Gujarat Energy Transmission Corp to supply power transformers.

  • Elara Capital maintains a positive outlook on India’s consumer internet sector, citing Eternal as a key valuation anchor and assigning an ‘Accumulate’ rating to Swiggy. It notes that India’s e-commerce penetration remains low at about 7% in CY24, placing the market at an early inflection point similar to the US and China in the early 2010s. Elara adds that Indian internet companies are still in the early maturity phase, growing 25–40% while gradually moving toward profitability.

  • Lenskart Solutions rises sharply as Jefferies initiates coverage on the company with a 'Buy' call and a target price of Rs 500 per share. This indicates a potential upside of 18.6%. The brokerage believes that the eyewear company's vertically integrated, multi-channel model gives it cost advantages, faster delivery capabilities, and a better customer experience.

  • Sudeep Pharma's shares debut on the bourses at a 23.1% premium to the issue price of Rs 593. The Rs 895 crore IPO received bids for 93.7 times the total shares on offer.

  • Adani Enterprises is rising as its arm, Adani Defence Systems and Technologies, enters an agreement to acquire a 72.8% stake in Flight Simulation Technique Centre (FSTC) from Flight Simulation Solutions (FSS) for Rs 820 crore.

  • JM Financial initiates coverage on Belrise Industries with a 'Buy' rating and a target price of Rs 215. The brokerage says Belrise is a leading player in 2W metal components, with a 24% market share, and ranks among the top three suppliers. It highlights the company’s expanding EV-focused portfolio and the scale-up of the 4W segment, with plans to double revenue from this category over the next 2–2.5 years. Ongoing deleveraging is also expected to support strong earnings growth.

  • Tanfac Industries surges as it secures an order worth Rs 336 crore from Krishna Organics to supply high-purity diluted hydrofluoric acid.

  • Refex Industries surges more than 10% as it secures an order worth Rs 100 crore to excavate and transport pond ash.

  • Bombay Dyeing & Manufacturing Co falls as it plans a temporary shutdown of its Patalganga plant from November 28 to December 18, resulting in a volume shortfall of 7,500 metric tonnes (MT). The company plans this shutdown for maintenance activities.

  • Zydus Lifesciences is rising as it receives tentative approval from the US FDA for Empagliflozin and Linagliptin tablets. The drug is used to improve glycaemic control in adults with type 2 diabetes mellitus and has a market size of $215.8 million according to IQVIA.

  • Nifty 50 was trading at 26,230.35 (14.8, 0.1%), BSE Sensex was trading at 85,791.55 (71.2, 0.1%) while the broader Nifty 500 was trading at 23,946.45 (-1.3, 0.0%).

  • Market breadth is horizontal. Of the 2,039 stocks traded today, 939 were on the uptrend, and 1,005 went down.

Riding High:

Largecap and midcap gainers today include Ipca Laboratories Ltd. (1,447, 3.7%), SRF Ltd. (2,927.30, 3.1%) and Varun Beverages Ltd. (481.55, 3.1%).

Downers:

Largecap and midcap losers today include GAIL (India) Ltd. (176.09, -4.2%), Swiggy Ltd. (378.30, -2.2%) and Astral Ltd. (1,440, -2.1%).

Volume Rockets

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

Top high volume gainers on BSE included Welspun Living Ltd. (148.82, 12.3%), Zee Entertainment Enterprises Ltd. (101.47, 3.5%) and Poonawalla Fincorp Ltd. (480.30, 3.2%).

Top high volume losers on BSE were KIOCL Ltd. (355.35, -4.5%), GAIL (India) Ltd. (176.09, -4.2%) and Chalet Hotels Ltd. (886.40, -1.1%).

BLS International Services Ltd. (329.75, 2.7%) was trading at 4.6 times of weekly average. Hatsun Agro Products Ltd. (1,047, -0.5%) and Cholamandalam Financial Holdings Ltd. (1,848, 2.6%) were trading with volumes 3.9 and 3.7 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

12 stocks overperformed with 52 week highs, while 8 stocks were underachievers and hit their 52 week lows.

Stocks touching their year highs included - Adani Ports & Special Economic Zone Ltd. (1,516.90, 0.5%), AIA Engineering Ltd. (3,862.60, 0.7%) and Cummins India Ltd. (4,479.30, 0.7%).

Stocks making new 52 weeks lows included - Jyothy Labs Ltd. (300.05, -1.6%) and SJVN Ltd. (77.86, -1.3%).

7 stocks climbed above their 200 day SMA including JSW Holdings Ltd. (20,284, 2.3%) and Swan Corp Ltd. (446.80, 1.5%). 22 stocks slipped below their 200 SMA including GAIL (India) Ltd. (176.09, -4.2%) and Jyoti CNC Automation Ltd. (1,010.25, -2.8%).

 
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