Market Overview - The Indian market ended lower due to profit-taking, with the Sensex and Nifty near record highs, led by declines in banking heavyweights ICICI Bank and HDFC Bank [1][2] - The S&P BSE Sensex dropped 400.76 points, or 0.47%, closing at 85,231.92, while the NSE Nifty 50 declined 124 points, or 0.47%, settling at 26,068.15 [1][12] Market Sentiment - Market sentiment was bearish, with 2,898 out of 4,338 stocks traded on the BSE declining, while only 1,278 advanced [11] - A soft manufacturing PMI reading, a weakening INR, and concerns over potential delays in India–US trade discussions contributed to the cautious market tone [3][12] U.S. Market Influence - Better-than-expected U.S. non-farm payroll data dampened expectations for a December rate cut, impacting Indian market sentiment [2][12] - U.S. stocks rallied sharply, with the S&P 500 climbing 64.89 points, or 0.99%, and the Dow Jones Industrial Average surging 505.03 points, or 1.08% [6][12] Technical Analysis - A bearish Harami pattern formed on the hourly chart of the Nifty, indicating further weakness in the coming sessions [8][12] - Resistance for the Nifty is placed at 26,166, while a decline could extend towards the 25,920–25,900 zone [9][12] Active Stocks - HDFC Bank was the most active stock in value terms at Rs 1,752 crore, followed by Kotak Mahindra Bank and Adani Wilmar [10][12] - In volume terms, Vodafone Idea led with 74.6 crore shares traded, followed by JP Power and YES Bank [10][12] Stock Performance - Over 87 stocks reached their 52-week highs, including Bharti Airtel and RIL, while 225 stocks hit their 52-week lows [10][12] - Notable selling pressure was observed in stocks like JP Power and GE Vernova T&D India [10][12]
Ahead of Market: 10 things that will decide D-Street action on Monday
The Economic Times·2025-11-23 11:16