Benchmarks closed nearly flat on Friday after reaching new record highs earlier in the session, as investors took a moment to consolidate their gains while speculating on upcoming interest rate cuts in the United States and India. The Sensex decreased by 13.71 points or 0.02 percent, finishing at 85,706.67, and the Nifty fell 12.60 points or 0.05 percent, settling at 26,202.95.
The trading session featured mixed performances across key stocks along with sectoral rotation, as market participants processed India’s robust second-quarter GDP growth of 8.2 percent, an increase from 7.8 percent in the previous quarter. “Markets traded lackluster on Friday, ending almost unchanged after reaching a fresh record high,” observed Ajit Mishra, Senior Vice President of Research at Religare Broking Ltd. “On the index front, the Nifty made slight gains in early trade, but a mixed trend among heavyweight stocks muted momentum throughout the session, stabilizing near the 26,205 level.”
Sector-wise, the performance was varied. The Nifty Auto index climbed 0.6 percent, reaching a new record high, while the Nifty Pharma also gained 0.6 percent, buoyed by strong retail demand and improving trends across various segments. Media stocks recorded increases of up to 1 percent. Conversely, the Nifty Oil & Gas index dropped by 0.7 percent, with the Financial Services and Realty sectors slipping 0.4 percent and 0.2 percent, respectively. Additionally, Power and telecom sectors faced losses between 0.5 and 0.7 percent.
Within individual stocks, Mahindra & Mahindra emerged as the biggest gainer on the Nifty50, surging 2.17 percent to ₹3,761.00, closely followed by Sun Pharma, which rose 1.20 percent to ₹1,832.00. Adani Enterprises increased by 1.20 percent to ₹2,282.00, while Kotak Mahindra Bank and Eicher Motors added gains of 0.71 percent and 0.66 percent, reaching ₹2,125.10 and ₹7,045.00, respectively. On the downside, SBI Life led the decliners, sliding 1.72 percent to ₹1,970.00, followed by HDFC Life, which fell 1.36 percent to ₹767.20. Other notable decliners included Power Grid, down by 1.35 percent to ₹270.00, and Bharti Airtel, which shed 0.74 percent to ₹2,100.00.
Broader market performance lagged behind benchmarks, with the Nifty Midcap 100 dipping by 0.11 percent to 61,043.25 and the Nifty Smallcap 100 falling 0.27 percent to 17,829.25. Market breadth was subdued, with 1,960 stocks advancing against 2,197 decliners on the BSE, where a total of 4,312 stocks were traded. Notably, 117 stocks reached 52-week highs while 161 hit 52-week lows, and seven stocks closed in the lower circuit.
“Sentiment improved following constructive progress in India-US trade negotiations,” said Bajaj Broking Research. “With upcoming Q2 GDP and IIP data, the overall outlook appears positive, and these forthcoming prints are expected to affirm the strengthening macro environment.” Siddhartha Khemka, Head of Research at Motilal Oswal Financial Services, added that “domestic sentiment was bolstered by robust macro data, with India’s Q2 GDP expanding 8.2 percent, up from 7.8 percent in the prior quarter.”
In currency news, the Indian rupee weakened, depreciating by 8 paise to close at 89.43 against the dollar as the dollar index remained around 99.75. “The overall trend remains weak, with the rupee continuously facing resistance near 89.25 due to ongoing dollar strength and mixed foreign institutional investor activity,” stated Jateen Trivedi, VP Research Analyst at LKP Securities. “With no clear advancements on the India-US trade deal and prevailing uncertainties, rupee weakness may persist toward the 90.00 mark.”
Gold prices ended positively, rising by ₹600 to settle at ₹1,26,075, coinciding with a $16 increase in Comex gold to $4,175. “With US economic data pending following the government reopening, upcoming releases will play a crucial role for the Federal Reserve ahead of its final policy meeting set for December 10—where a rate cut is widely anticipated,” Trivedi noted.
Looking ahead, analysts maintain a positive outlook for the markets. “We recommend continuing a ‘buy on dips’ strategy as long as the Nifty holds above the 25,900 support zone, with a potential target toward 26,500,” Mishra explained. Investors will focus on the upcoming RBI policy decision next week, along with the release of the India and US PMI data, US core PCE inflation figures, and initial jobless claims, which could offer further direction to market trends.
Published on November 28, 2025.
