Market Wrap: Sensex slips 314 points, Nifty ends below 25,900 on monthly derivative expiry; PSU Bank stocks shine

Market Overview - The S&P BSE Sensex dropped 314 points, or 0.37%, closing at 84,587, while the NSE Nifty 50 declined 75 points, or 0.30%, settling at 25,884 [1][14] - The domestic market experienced sharp volatility on the monthly expiry day, influenced by a weakening Indian Rupee (INR) and continued Foreign Institutional Investor (FII) outflows [5][14] Sector Performance - In the 30-share Sensex pack, only a few stocks like BEL, SBI, Tata Steel, and Reliance Industries ended in the green, while others, including Trent and Tata Motors, saw significant declines [2][14] - Sectorally, Nifty IT, Auto, FMCG, and Oil & Gas were the top drags, with declines up to 0.6% on November 25, particularly affected were Infosys, TCS, HCL Tech, and Wipro [2][14] Technical Analysis - The 20-day EMA zone of 25,850–25,800 is expected to act as crucial support for the Nifty Index, with a sustained move below 25,800 potentially driving it towards 25,600 [6][14] - For Bank Nifty, the support zone is identified at 58,600–58,500, with a potential drop towards 58,000 if it moves below 58,500, while a breakout above 59,200-59,300 could lead to an upward trend [7][14] Currency and Global Market Impact - The Indian Rupee ended flat at 89.22 per dollar against the previous day's close [8][14] - Global stocks saw an increase as Federal Reserve officials indicated potential interest rate cuts in December, leading to a rotation into technology shares [9][14] - MSCI's All-World Index rose for the third consecutive session, reflecting a broader improvement in market sentiment [10][14] Commodity Market - Brent crude futures slipped 0.8% to $62.88 per barrel due to concerns over rising global oil supply potentially outpacing demand next year [11][14] - Gold prices eased 0.6% to $4,115 an ounce but remained on track for nearly a 3% gain for November [10][14]