The Indian stock market on 28 November 2025 showed a broadly rangebound performance with the Sensex marginally up by approximately 0.13% and the Nifty50 almost flat, reflecting cautious investor sentiment amid mixed domestic and global cues.
Market momentum was influenced by India's Q2 GDP growth previewed at an estimated 7.3%, supported by steady rural demand and government spending, although private capital expenditure remained subdued.
Despite record highs reached recently, the market faced downward pressure in the broader midcap and smallcap segments, which saw slight declines, and sector rotations influenced by profit concerns in technology stocks.
Retail investor sentiment appeared cautious yet optimistic, awaiting further clarity from October industrial and manufacturing data alongside upcoming policy developments.
Overall, the market narrative emphasized resilience with muted volatility, as participants balanced optimism from macroeconomic fundamentals against potential headwinds from global uncertainty and profit-taking activities.
Key Indices
NIFTY 50
26,203
-0.05%
SENSEX
85,706.67
-0.02%
Momentum Snapshot
Index
Price
1D
1M
1Y
Sensex
85,706.67
-0.02%
0.83%
7.40%
Nifty Next 50
69,137
0.10%
-0.17%
-1.59%
Nifty 50
26,203
-0.05%
1.03%
9.57%
Nifty Midcap 100
61,043
-0.11%
2.14%
8.42%
Nifty Smallcap 250
16,733
-0.22%
-3.54%
-4.81%
Sector Highlights
Auto
+0.62%
The auto sector gained 0.62% on November 28, 2025, driven by strong performance from major constituents like M&M and Adani Ports, which were among the top Nifty gainers. The sector benefited from positive sentiment around strong domestic demand and resilient quarterly growth expectations. Auto stocks have maintained momentum as part of the broader large-cap outperformance this month, with the sector being one of the standout performers since the market's previous all-time high in September 2024.
Pharma
+0.59%
Pharma stocks rose 0.62% on November 28, with Sun Pharma among the top Nifty gainers. The sector's strength was bolstered by Sudeep Pharma's strong market debut, closing 30% higher at Rs 773.70 after listing at a 23% premium to its IPO price, reflecting strong investor confidence in pharmaceutical equities. The sector has been a consistent performer this month and continues to benefit from stable domestic demand dynamics.
Media
+0.55%
Media stocks gained 0.55% on November 28, contributing to the day's modest upside. The sector has shown resilience as part of the broader market rally, though it experienced some volatility. Media stocks rallied to fresh record highs on November 27 before profit-taking emerged, and the sector continues to track overall market sentiment driven by expectations of interest rate cuts from both the Federal Reserve and Reserve Bank of India.
CPSE
-0.59%
CPSE stocks declined 0.59% on November 28 as part of broader selling pressure in power and infrastructure sectors. Power Grid Corporation was among the top losers on the day. The sector has been the biggest underperformer since the market's previous all-time high 14 months ago, with the BSE Utilities index down 23%, driven by weaker-than-expected power demand and operational inefficiencies affecting major state-owned enterprises.
PSE
-0.65%
PSE stocks fell 0.65% on November 28, with power and oil & gas sectors shedding 0.5-1% each. The decline reflects ongoing structural headwinds facing public sector enterprises, particularly in utilities and energy. The power sector has struggled due to weak demand, while the oil & gas sector faced uncertainties from geopolitical conflicts affecting crude prices. These sectors represent the weakest performers since the market's previous record high in September 2024.
Sector Scoreboard
Sector
1D
1W
1Y
3Y
Auto
+0.62%
+0.18%
+17.38%
+113.02%
Pharma
+0.59%
+0.77%
+4.74%
+76.30%
Media
+0.55%
+0.32%
-25.58%
-30.44%
CPSE
-0.59%
-1.36%
-2.72%
+123.94%
PSE
-0.65%
-1.44%
-3.40%
+122.67%
Stock Spotlight Of The Day
Reliance Industries
Market Cap
21,20,131 Cr
Current Price
₹1,567
Stock P/E
27.7
Dividend Yield
0.35%
ROCE
9.69%
ROE
8.40%
Shareholding Changes (Impact Factors)
FIIs
QoQ
-0.56%
YoY
-2.65%
Stable foreign holding
DIIs
QoQ
0.53%
YoY
2.64%
Stable domestic holding
Promoters
QoQ
-0.06%
YoY
-0.23%
Minor reduction
Quarterly Summary (Absolute)
Sales
QoQ
Slight growth
4.51%
YoY
Mild rise
9.97%
Expenses
QoQ
Slight uptick
3.99%
YoY
Mild increase
8.45%
Operating Profit
QoQ
Mild gains
6.95%
YoY
Healthy pickup
17.48%
Net Profit
QoQ
Collapsed
-28.23%
YoY
Healthy growth
14.33%
Profit & Loss (Compounded)
Sales Growth
10 Years
10%
5 Years
10%
3 Years
11%
TTM
8%
Profit Growth
10 Years
12%
5 Years
10%
3 Years
5%
TTM
13%
Stock Price CAGR
10 Years
22%
5 Years
12%
3 Years
8%
1 Year
23%
Return on Equity
10 Years
9%
5 Years
8%
3 Years
9%
Last Year
8%
Fundamentals Corner
The company exhibits stable long-term sales growth and is showing strong recent acceleration in profitability, which has fueled a significant stock price rally over the past year.
However, investors should be cautious as its valuation appears stretched given the persistently low return on equity (8-9%), and the latest quarter's sharp drop in net profit warrants a closer look despite solid operational performance.
News TidBits
The stock reached a new 52-week high, signaling strong positive momentum and investor confidence.
Jefferies reaffirmed its 'Buy' rating on the company, citing robust earnings visibility across all its major business segments, from energy to retail and telecom.
A joint venture involving Reliance, Digital Connexion, announced a massive $11 billion investment to develop a 1-gigawatt AI-focused data center in Visakhapatnam, positioning the company to capitalize on the AI boom.
This large-scale data center project aligns with the growing demand for digital infrastructure and could create significant long-term value for the company.
The combination of strong performance in core businesses and strategic investments in future-growth areas like AI infrastructure underpins the stock's recent rally.
Stacks on Stacks: Tip Time 🤑
Don't mistake a rising Nifty for a healthy portfolio; a narrow rally driven by a few large-cap stocks can easily mask underperformance in your specific mid-cap and small-cap holdings.
Inside The Fund
Kotak Flexi Cap Fund
Fund Size: ₹ 56039.86 Cr
NAV: ₹ 99.218 (as on 27th November, 2025)
1 Year
9.62%
Category: 4.81%
2 Year
20.04%
Category: 18.01%
3 Year
17.62%
Category: 17.47%
5 Year
18.36%
Category: 19.17%
10 Year
15.49%
Category: 15.22%
Top 10 Holdings
Stock
Holding %
1M Change
HDFC Bank Ltd.
6.34%
0.71%
Bharat Electronics Ltd.
6.08%
0.03%
ICICI Bank Ltd.
6.00%
-0.61%
State Bank Of India
3.98%
0.14%
Larsen & Toubro Ltd.
3.81%
0.16%
Jindal Steel Ltd.
3.62%
-0.12%
Eternal Ltd.
3.57%
-0.04%
Axis Bank Ltd.
3.52%
0.17%
SRF Ltd.
3.27%
0.01%
Infosys Ltd.
3.04%
-0.03%
The Common Ground
Shows the commonly added & removed stocks by mutual funds last month
Top Added (5)
TML Commercial Vehicles Ltd.
3 funds
Nippon India Multicap Fund - Direct Plan - Growth
0.15%
Franklin India Multi Cap Fund - Direct Plan - Growth
0.27%
Mirae Asset Multicap Fund - Direct Plan - Growth
0.60%
LG Electronics India Pvt. Ltd.
3 funds
Nippon India Multicap Fund - Direct Plan - Growth
0.08%
Axis Multicap Fund - Direct Plan - Growth
0.26%
Canara Robeco Multi Cap Fund - Direct Plan - Growth
0.56%
Lenskart Solutions Ltd.
3 funds
ICICI Prudential Multicap Fund - Direct Plan - Growth
0.31%
Axis Multicap Fund - Direct Plan - Growth
0.22%
Aditya Birla Sun Life Multi Cap Fund - Direct Plan - Growth
0.37%
Wework India Management Ltd.
3 funds
Axis Multicap Fund - Direct Plan - Growth
0.49%
Canara Robeco Multi Cap Fund - Direct Plan - Growth
1.08%
Mirae Asset Multicap Fund - Direct Plan - Growth
0.86%
Canara HSBC Life Insurance Co.Ltd.
2 funds
Quant Multi Cap Fund - Direct Plan - Growth
1.12%
Mirae Asset Multicap Fund - Direct Plan - Growth
1.05%
Top Removed (5)
Bajaj Auto Ltd.
2 funds
Nippon India Multicap Fund - Direct Plan - Growth
-0.28%
HSBC Multi Cap Fund - Direct Plan - Growth
-0.36%
Mangalore Chemicals & Fertilisers Ltd.
2 funds
SBI Multicap Fund - Direct Plan - Growth
-0.24%
ICICI Prudential Multicap Fund - Direct Plan - Growth
-0.43%
HDFC Life Insurance Company Ltd.
2 funds
ICICI Prudential Multicap Fund - Direct Plan - Growth
-0.67%
Canara Robeco Multi Cap Fund - Direct Plan - Growth
-0.34%
Infosys Ltd.
2 funds
ICICI Prudential Multicap Fund - Direct Plan - Growth
-0.62%
Quant Multi Cap Fund - Direct Plan - Growth
-2.41%
Wipro Ltd.
2 funds
Quant Multi Cap Fund - Direct Plan - Growth
-0.89%
HSBC Multi Cap Fund - Direct Plan - Growth
-0.93%
Top News Developments
FIIs Pull Out ₹1,255 Crore on Budget Jitters
Foreign investors turned net sellers due to apprehension over new tax provisions in the Union Budget and weakening global sentiment.
This outflow puts pressure on the Indian Rupee, which is already trading near its record low, prompting potential RBI intervention.
The selling was concentrated in cyclical sectors like banking and IT, while defensive sectors saw relatively less impact.
While DIIs are currently absorbing the selling pressure, sustained FII outflows could trigger a broader market correction in the coming weeks.
India's Q2 GDP Growth Surges to 8.2%, Beating Forecasts
The stronger-than-expected GDP growth provides a significant positive macroeconomic backdrop, suggesting underlying economic resilience.
This robust data could attract foreign investment once current budget-related concerns subside, providing a long-term tailwind for the market.
Sectors tied to domestic consumption and manufacturing are likely to benefit most from this strong economic performance.
The high growth figure may give the RBI more room to focus on inflation control without worrying about stifling economic activity.
Adani Defence Expands into Aviation Training with ₹820 Crore Buyout
Adani Defence acquired a 72.8% stake in FSTC, a pilot training firm, signaling an aggressive push into the defence and aerospace ecosystem.
This move leverages the government's focus on indigenous defence manufacturing and the rising demand for pilots from expanding Indian airlines.
The acquisition creates synergies with Adani's existing airport operations, potentially allowing them to offer bundled services to airlines.
For investors, this deal solidifies the Adani Group's long-term strategy of building a comprehensive infrastructure portfolio, though the capital outflow is a near-term factor to watch.
Bandhan Bank Initiates Major Balance Sheet Cleanup
The bank's board approved the sale of its Non-Performing Asset (NPA) and written-off loan portfolios worth over ₹6,900 crore.
This strategic move is aimed at cleaning up its balance sheet, improving asset quality, and freeing up capital for future lending growth.
While the sale will likely lead to a one-time hit on profitability in the near term, it is a long-term positive for the bank's financial health and stability.
This action could set a precedent for other banks struggling with asset quality, reinforcing a positive trend of balance sheet strengthening across the Indian banking sector.
FII / DII Snapshot
Yesterday
FII Net: ₹-1255.20 cr
DII Net: ₹3940.87 cr
October 2025
FII Net: ₹-2346.89 cr
DII Net: ₹52794.02 cr
Daily Flows
Date
FII Net
DII Net
27-Nov-2025
₹-1255.20 cr
₹3940.87 cr
26-Nov-2025
₹4778.03 cr
₹6247.93 cr
25-Nov-2025
₹785.32 cr
₹3912.47 cr
24-Nov-2025
₹-4171.75 cr
₹4512.87 cr
21-Nov-2025
₹-1766.05 cr
₹3161.61 cr
Monthly Flows
Month
FII Net
DII Net
October 2025
₹-2346.89 cr
₹52794.02 cr
September 2025
₹-35301.36 cr
₹65343.59 cr
August 2025
₹-46902.92 cr
₹94828.55 cr
July 2025
₹-47666.68 cr
₹60939.16 cr
June 2025
₹7488.98 cr
₹72673.91 cr
May 2025
₹11773.25 cr
₹67642.34 cr
• Foreign Institutional Investors (FIIs) turned significant net sellers, offloading approximately ₹1,255 crore, reversing their recent buying trend and exerting downward pressure on the market.
• This FII selling is primarily driven by concerns over new tax provisions in the recent Union Budget and a broader global risk-off sentiment, which is causing fund managers to adopt a defensive stance in emerging markets like India.
• In stark contrast, Domestic Institutional Investors (DIIs) provided strong support by making net purchases of over ₹3,940 crore, effectively absorbing the FII outflow and preventing a steeper market correction.
IPO Watchlist
Upcoming IPOs
The primary market is set for a busy period with three significant IPOs—Meesho, Aequs, and Vidya Wires—scheduled to open for subscription in early December.
Meesho's public offering is the largest of the lot at ₹5,421 crore and is already generating substantial investor interest, as reflected by its strong grey market premium (GMP) of over 27%.
This high demand is reportedly driven by the company's strong growth and market penetration in non-metro regions, though experts have also cautioned about inflated valuations in the pre-IPO space.
Vidya Wires
300.01
Date:3 Dec - 5 Dec
List:10 Dec
Subscription: -
GMP: 19.23%
Aequs
921.81
Date:3 Dec - 5 Dec
List:10 Dec
Subscription: -
GMP: 25.81%
Meesho
5421.20
Date:3 Dec - 5 Dec
List:10 Dec
Subscription: -
GMP: 27.03%
Cha-Ching Cheatsheet 💵
High Grey Market Premiums reflect speculative frenzy, not a guaranteed listing gain; your ultimate profit is determined by the price you pay, not the pre-listing hype.
Global Markets
Country
Index
1D
1Y
3Y
🇺🇸 USA
S&P 500
0.69%
13.58%
71.96%
🇨🇳 China
Shanghai Composite
0.34%
17.49%
26.31%
🇸🇬 Singapore
Straits Times
0.32%
22%
39.63%
🇹🇭 Thailand
SET Composite
0.32%
-12.14%
-22.28%
🇮🇳 India
GIFT NIFTY
0.17%
10.52%
41.93%
🇯🇵 Japan
Nikkei 225
0.11%
31.69%
78.55%
🇫🇷 France
CAC
0.10%
13.50%
20.78%
🇬🇧 UK
FTSE
0.09%
17.26%
29.82%
🇩🇪 Germany
DAX
-0.10%
23.27%
63.29%
🇭🇰 Hong Kong
Hang Seng
-0.12%
32.2%
49.82%
🇮🇩 Indonesia
Jakarta Composite
-0.44%
18.17%
21.25%
🇰🇷 South Korea
KOSPI
-1.54%
56.86%
63.05%
US markets were closed on 27 November for Thanksgiving and operated partially on 28 November, leading to subdued global trading volumes impacting Indian market liquidity and trading patterns.
Global investors remained wary due to mixed economic data from key regions amid ongoing geopolitical tensions and monetary policy tightening in major economies.
Commodity price fluctuations, notably in oil and gas, influenced sentiment worldwide, with some downward pressure noted in related Indian sectors as global supply-demand imbalances persisted.
Equity markets in Europe and Asia showed cautious trends, with investors focusing on upcoming central bank meetings and economic data releases that could signal changes in global growth trajectory.
Currency markets also impacted sentiments, as fluctuations in the US dollar and major currencies influenced capital flows into emerging markets including India.
Emerging Opportunities
Renewable energy continues to emerge as a promising sector supported by recent policy incentives and India’s push towards sustainable infrastructure investments.
Financial technology companies are gaining traction amid digital payment innovations and expanding financial inclusion, presenting medium- to long-term growth potential.
Pharmaceuticals and healthcare remain attractive owing to ongoing innovation, export potential, and increased domestic demand post-pandemic.
Infrastructure development, boosted by government spending in transportation and urban development projects, offers significant growth opportunities.
Contrarian opportunities exist in select midcap and smallcap stocks that have been temporarily undervalued due to short-term profit concerns but possess strong fundamentals aligned with India’s long-term economic growth story.
Policy & Regulations
Market regulator SEBI has introduced a new incentive structure for mutual fund distributors to deepen market participation across the country.
This initiative specifically aims to encourage bringing in new investors from beyond the top 30 cities (B30) and to increase the number of women investors, potentially boosting long-term retail inflows.
In a separate development, the National Stock Exchange (NSE) announced a reduction in the futures and options (F&O) lot size for key indices, which could lower the capital required for retail traders to participate in derivatives.
Crypto Buzz
Name
Price
Market Cap
24h Change
ATH Change
Bitcoin (BTC)
$91266
$1.82T
-0.22%
-27.66%
Ethereum (ETH)
$3028.12
$365.28B
-0.02%
-38.81%
Tether (USDT)
$0.999949
$184.56B
-0.00%
-24.42%
XRP (XRP)
$2.2
$132.46B
0.39%
-39.66%
BNB (BNB)
$890.19
$122.50B
-0.13%
-35.08%
The cryptocurrency market experienced a modest recovery, with the global market capitalization seeing a slight increase over the last 24 hours.
Bitcoin's price climbed back above $91,000, signaling a potential stabilization and leading a broader rebound across other major coins like Ethereum and XRP.
Investor sentiment remains cautiously optimistic, influenced by ongoing institutional developments such as the progress of BlackRock's Bitcoin ETF, which could further legitimize the asset class for mainstream investors.
Inside The Fund
Top Added (5) 
