29th November Market Report

Indian Stock Market Weekly Wrap: November 28, 2025 Closing Analysis

Indian benchmark indices ended flat on November 28, 2025, with the BSE Sensex closing at 85,706.67, down 0.02%, and NSE Nifty 50 at 26,202.95, down 0.05%, amid range-bound trading between 26,150-26,310 support and 26,280-26,310 resistances. Nifty Bank showed resilience above 59,000, while broader markets like Nifty Midcap 100 dipped 0.11% and Smallcap 100 fell 0.27%. F&O data indicated steady open interest in Nifty and Bank Nifty options, with no major ban list breaches reported, signalling balanced positioning ahead of weekly expiry.

Top Performers Outlook

Top 5 performing stocks on November 28 included Mahindra & Mahindra up 2.07%, Sun Pharmaceutical Industries up 1.18%, Adani Enterprises up 2.20% in late session, Hindustan Unilever up 2.06%, and Hindalco Industries up 4.21%. These names showed strong momentum from auto/pharma/metal sectors, with elevated F&O volumes in PGEL futures (up 2.03%, OI surge) and JIOFIN (up 1.36%).

Top 5 segments poised for Monday gains: Auto (Nifty Auto +0.62%), Pharma (+0.59%), Metals (Hindalco-led), Finance (+0.06%), and Realty, driven by technical breakouts above key EMAs and positive global cues. Fundamentals remain supportive with stable PE ratios around 22-24x for Nifty, though Oil & Gas lagged at -0.69%.

Category	Top Performers	% Change	Key Driver
Stocks	M&M, Sun Pharma, Adani Ent., HUL, Hindalco	+2.07% to +4.21%	Sector rotation, F&O buildup
Sectors	Auto, Pharma, Metals, Finance, Realty	+0.06% to +0.62%	Technical support holds

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FII & DII Performance in November 2025

Foreign Institutional Investors (FIIs) recorded net outflows of approximately ₹17,500 crore in the cash segment through November 28, 2025, amid global reallocations to US/China tech amid geopolitical tensions and tariff risks. Domestic Institutional Investors (DIIs) countered with robust net inflows of ₹77,084 crore, driven by SIPs, mutual funds, and insurance buying, stabilizing Nifty 50 above 26,000 despite FII pressure.

Daily trends showed FII selling on 12/19 trading days (e.g., -₹3,796 Cr on Nov 28), while DIIs bought consistently, with peaks like +₹8,461 Cr on Nov 14. Cumulative FII gross purchases hit ₹307,574 Cr vs. sales ₹325,074 Cr; DII gross buys ₹318,137 Cr vs. sales ₹241,053 Cr.

Impact on Industrial Production

October 2025 IIP data (latest available, release deferred to Dec 1) showed 4% YoY growth in September, steady from 4.1% in August, supported by DII-led market resilience boosting capex in manufacturing (IIP +4.5%). FII outflows mildly pressured industrials (Nifty down 0.5% MTD), but DII flows cushioned via infra/pharma; Eight Core Industries flat at 162.4 in Oct. No direct November IIP yet; expect 3.5-4.5% on export drag offset by domestic demand.

Impact on Exports & Imports

October trade deficit ballooned to record $41.68 Bn (vs. $26.23 Bn YoY), with exports -11.8% at $34.38 Bn and imports +16.6% at $76.06 Bn, led by gold surge (~200% YoY). FII caution amid deficit signalled rupee pressure (USDINR ~89.5), curbing import-heavy sectors; DII support aided export-oriented autos/pharma resilience (services exports cushioned overall). April-Oct cumulative: exports +0.6%, imports +6.4%; FII flows amplified volatility but DIIs limited downside via selective buying.

Metric	FII Net (₹ Cr)	DII Net (₹ Cr)	Key Impact
Nov MTD	-17,500	+77,084	Market stability despite outflows ​
IIP (Sep)	Neutral	Supportive (+4%)	Capex via DII ​
Trade Deficit (Oct)	Pressure (₹ outflows)	Cushion (domestic focus)	$41.68 Bn record ​

DII dominance mitigated FII exit risks, supporting production amid trade headwinds.
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Commodities Snapshot

Precious metals closed firm: MCX Gold at ₹1,26,170-1,26,820/10g (up 0.37%), Silver at ₹1,64,450-1,67,190/kg (up 1.37%), reflecting Fed rate cut optimism. Ferrous/base metals mixed—Aluminium down 0.07% to ₹272/kg, Zinc -0.1% to ₹300.90/kg, Copper steady on demand bets; Nickel/Lead expiry caution noted. Energy saw Crude Oil up 0.54% to ₹5,221/bbl, supporting agro outlook despite limited MCX agro closes.

Technicals favour metals rebound if global China data improves; fundamentals tied to USD weakness.

Currency & Crypto Update

INR weakened slightly: USDINR at 89.47-89.59 (up 0.10-0.12%), EURINR ~103.77, GBPINR 118.35, JPYINR 57.40. Crypto held steady in INR terms: Bitcoin ~₹81.25 lakh (-0.55%), Ethereum ₹2,70,285 (+0.11%), signaling risk-on bias.

Monday Watch: Economic Events

No major RBI announcements; focus on Q3 results from Bharat Bijlee, Mufin Green Finance (EGM/ POMs on Nov 29). IPO activity peaks—Groww opens Nov 4 (but allotment checks Nov 11), Pine Labs closes Nov 11, with listings eyed post-weekend; Studds Accessories allotment Nov 4. Global cues from US data could drive Nifty toward 26,310 breakout.

Nifty Futures Technical Analysis

Nifty 50 futures closed at 26,202.95 on November 28, 2025, with key support at 26,150-26,100 and resistance at 26,300-26,350. A daily candlestick chart would highlight the index’s consolidation near lifetime highs, trading above 20/50 EMAs but facing rejection at 26,277-26,300, with RSI neutral around 55-60 indicating no overbought conditions.

Recommended Chart 1: Nifty Daily Price Chart with EMAs and Pivot Points
This chart overlays 20/50/200 EMAs, pivot levels (R1: 26,310, Pivot: 26,222, S1: 26,172), and volume profile to visualize the range-bound action between 26,150 support and 26,350 resistances. Bullish breakout above 26,350 targets 26,500; breach below 26,100 eyes 25,900.

Nifty Options Chain Insights

Max pain hovers near 26,200-26,250 based on November 28 OI data, with highest call OI at 26,300 and put OI at 26,000 (1.53 Cr contracts), yielding PCR ~1.0 signalling balanced sentiment. An options OI buildup chart would show put support at 26,000/26,100 and call resistance at 26,300, with volume spikes at these strikes.

Recommended Chart 2: Nifty Options OI & PCR Heatmap
Plot strike-wise OI for calls/puts (e.g., 26,000 Put: high OI support; 26,300 Call: resistance cap), PCR trendline, and max pain trajectory. PCR above 1.0 favours bulls if spot holds 26,200; decay accelerates post-expiry toward 26,310 pivots.

Bank Nifty Futures & Options Levels

Bank Nifty futures at ~59,737-60,050, with support 59,500-59,400 and resistance 59,900-60,000; RSI >60 maintains bullish control. Weekly pivot at 59,798, with max upside to 60,700 on 60,250 break.

Recommended Chart 3: Bank Nifty Weekly Chart with Support/Resistance
Display futures price action vs. 20 SMA, Fibonacci retracements (61.8% at 59,700), and OI for 59,500 Put/60,000 Call strikes. Upside bias if holds 59,700; downside risk below to 59,200.

Chart Type	Key Levels Shown	Purpose
Daily Price	S:26,150 R:26,350 Pivots/EMAs	Trend ID, Breakout Signals
Options OI	26,000 Put/26,300 Call Max Pain:26,200	Sentiments, Expiry Decay
Bank Nifty Weekly	S:59,500 R:60,000 Fib 61.8%	Momentum Confirmation

Key Futures Support & Resistance Levels

BSE Sensex futures hover near 85,750, with immediate support at 85,200-85,400 and resistance at 86,000-86,200, based on November 28 closing consolidation. A sustained break above 86,200 targets 86,500, while breach below 85,100 risks 84,800. Pivot levels align with prior session range for intraday plotting.

Nifty 50 futures key support rests at 26,050-26,100, with resistance at 26,300-26,350; pivot at 26,222 confirms range-bound bias post-flat close. Upside breakout above 26,350 eyes 26,500; downside below 26,000 signals correction to 25,900.

Bank Nifty futures support at 59,450-59,550, resistance 59,900-60,250; futures closed ~60,050 with bullish RSI above 60. Breakout over 60,250 targets 60,700; drop under 59,450 eyes 59,200.

FinNifty & MidcapNifty Levels

FinNifty futures support near 27,500-27,600, resistance 27,900-28,000 from recent OI data; trading above key EMAs favours bulls if holds 27,618 closes. Pivot plotting essential for expiry flows.

Nifty Midcap 150 closed 22,420 with support 22,356-22,400, resistance 22,450-22,500; 52-week high at 22,495 looms as breakout trigger. Deeper support at 22,000 on volume breach.

Index Futures	Support Levels	Pivot	Resistance Levels
Sensex	85,200; 85,100	85,750	86,000; 86,200
Nifty 50	26,050; 26,000	26,222	26,300; 26,350
Bank Nifty	59,450; 59,200	59,798	59,900; 60,250
FinNifty	27,500; 27,618	–	27,900; 28,000
MidcapNifty	22,356; 22,000	22,420	22,450; 22,495

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Open Interest & Strike Price:
The highest open interest (OI) strike prices for Nifty options on November 28, 2025, were concentrated around the 26,000-26,300 range for both calls and puts, with a put-call ratio close to 1.0, indicating balanced market sentiment near this zone. For Bank Nifty, the highest OI strikes were cantered near 59,700 and 60,000 for calls and puts respectively, reflecting key support and resistance levels for this index. ​

To chart these option strikes’ open interest effectively, the following approach is recommended:

1. Use a strike-wise bar or histogram chart plotting the open interest values for calls and puts separately for each strike. Calls can be color-coded green, puts red, to visualize supply and demand zones and max pain levels.
2. Overlay the price chart of the underlying futures (Nifty/Bank Nifty) on a secondary axis to correlate price movement with option interest trends.
3. Display a PCR (Put-Call Ratio) trendline calculated as total put OI divided by call OI across strikes, to gauge bullish/bearish bias temporally.
4. Include time series or trend charts for OI changes at significant strikes to spot buildup or unwinding of positions pre-expiry.

This multichart format effectively informs about support/resistance strikes, market sentiment, and potential price inflection points from open interest dynamics.

Example highest OI strikes for bar chart (Nifty): Calls – 26,300; Puts – 26,000; (Bank Nifty): Calls – 59,700; Puts – 60,000.

This analysis aids traders in decision-making by linking option interest levels to price action visually.

Top 10 Nifty Option Strikes by Open Interest

Nifty 50 options for the December 2, 2025 expiry showed the highest open interest concentrations around the 26,000-26,500 range on November 29, 2025, reflecting key support and resistance zones near the spot price of 26,202.95. These strikes indicate strong positioning with balanced call and put OI, suggesting potential pinning near 26,200-26,300 ahead of expiry flows.

The top 10 strikes by total OI (calls + puts combined, ranked by descending OI contracts) from NSE most active data are:

Rank	Strike Price	Option Type	OI	LTP (₹)	% Change
1	26,000	Put	2,26,712	19.25	-40.49
2	26,500	Call	1,81,177	12.65	-40.61
3	26,400	Call	1,50,407	28.35	-33.99
4	26,100	Put	1,47,158	34.80	-36.67
5	26,300	Call	1,62,987	61.30	-22.16
6	26,200	Put	1,45,987	63.85	-28.50
7	25,900	Put	1,20,913	10.85	-42.29
8	26,250	Call	91,883	85.10	-16.89
9	26,200	Call	1,08,640	113.85	-12.32
10	26,300	Put	48,108	110.00	-20.20

These levels highlight 26,000 Put as strongest support (highest OI) and 26,300-26,500 Calls as overhead resistance, with PCR near 1.0 signalling neutral bias. Traders monitor OI changes for breakout confirmation.

Top 10 Nifty Stock Options by Traded Volume

Nifty 50 constituent stocks’ options showed high activity in F&O segments on November 29, 2025, with NSE most active contracts highlighting top volume in individual stock options beyond index levels. These strikes reflect intraday trading interest near ATM levels for high-beta Nifty names like HDFCBANK, ICICIBANK, and RELIANCE, driven by expiry positioning.

Top 10 stock option strikes by traded volume (contracts, NSE data) include:

Rank	Stock	Strike Price	Option Type	Volume	LTP (₹)	% Change
1	HDFCBANK	1,650.00	Call	1,10,655	12.50	-15.20
2	ICICIBANK	1,450.00	Put	61,613	18.75	-22.45
3	RELIANCE	2,600.00	Call	61,514	45.20	-28.10
4	BAJAJFINSV	2,200.00	Put	19,960	25.80	-18.90
5	VOLTAS	1,550.00	Call	14,153	32.10	+5.67
6	JIOFIN	310.00	Call	24,855	4.05	+1.32
7	HINDALCO	800.00	Put	22,442	8.50	+1.07
8	KALYANKJIL	505.00	Call	10,936	4.55	+0.91
9	PNB	121.00	Put	8,261	121.35	–
10	SUZLON	55.00	Call	9,404	54.58	–

High volumes cluster around near-money strikes, signalling liquidity for hedging and directional bets in banking/auto/metal sectors. Monitor for OI shifts post-session.

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Top 10 Penny Stocks Performance in November 2025

Penny stocks under ₹10 showed strong monthly gains in November 2025, driven by sectors like power, finance, and infrastructure amid market volatility. These low-priced shares from NSE/BSE delivered Multibaggers potential through volume surges and positive sentiment, though high risk persists due to low liquidity.

Top 10 performers ranked by percentage gains (approximate November returns, closing prices as of late November):

Rank	Stock Name	Sector	Nov Gain (%)	Closing Price (₹)	Key Driver
1	Reliance Power Ltd	Power/Utilities	+74	~₹38	Renewable expansion ​
2	SEPC Ltd	Engineering/EPC	+40	~₹12	Contract wins ​
3	PTC India Financial Services Ltd	Finance-Power	+29	~₹38	Profit growth ​
4	Infibeam Avenue Ltd	Digital Services	+28	~₹12	Revenue surge ​
5	Ujjivan Small Finance Bank Ltd	Banking	+30	~₹46	Loan book growth ​
6	NMDC Steel Ltd	Steel/Metals	+33	~₹46	Production ramp-up ​
7	Century Extrusions Ltd	Metals	+33	~₹26	Demand recovery ​
8	Allcargo Logistics Ltd	Logistics	+26	~₹33	Volume increase ​
9	Viji Finance Ltd	Finance-NBFC	+7 (mtd)	~₹2.8	High volume ​
10	Shrenik Ltd	Chemicals	+6	~₹0.54	Sector rotation ​

Power and finance sectors dominated with government support for infra/renewables boosting these picks. Investors note volatility; focus on fundamentals over short-term spikes.

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Top 10 Latest IPO Listed Stocks in November 2025

Recent mainboard and SME IPOs listed in November 2025 delivered mixed performance, with standout gains in IT, engineering, and pharma sectors amid strong subscriptions and sector tailwinds. Top performers showed listing premiums up to 90%, driven by high demand for tech and renewables, though some faced post-listing volatility.​

Ranked by listing gains and current LTP performance (as of late November 2025):

Rank	Stock Name	Sector	Listing Date	Issue Price (₹)	LTP (₹)	Gain (%)
1	Workmates Core2Cloud Solution Ltd	IT – Software	Nov 18	204	446.35	+118.8
2	Physicswallah Ltd	Educational Institutions	Nov 18	109	124.89	+14.6 (from LTP dip)
3	Sudeep Pharma Ltd	Pharmaceuticals & Drugs	Nov 28	593	774.15	+30.5
4	Gallard Steel Ltd	Engineering	Nov 26	150	233.70	+55.8
5	Tenneco Clean Air India Ltd	Auto Ancillaries	Nov 19	397	483.95	+22.0
6	Billionbrains Garage Ventures Ltd	Technology	Nov 12	100	158.88	+58.9
7	Pine Labs Ltd	Fintech/Payments	Nov 13	221	249.76	+13.1
8	Finbud Financial Services Ltd	Financial Services	Nov 13	142	155.50	+9.5
9	Excelsoft Technologies Ltd	IT – Software	Nov 26	120	119.79	-0.2 (stable)
10	Capillary Technologies India Ltd	IT – Software	Nov 21	577	644.00	+11.6

IT-software and engineering sectors led gains due to robust subscriptions (up to 349x) and positive market sentiment. Investors should track Q3 results for sustained momentum.

1st Week December 2025 Trade Outlook

Indian markets enter the first week of December 2025 with a sideways-to-bullish bias, as Nifty 50 holds above 26,100 pivots amid DII buying offsetting FII sales, targeting 26,300-26,500 on breakout. BSE Sensex eyes 86,000 resistance with support at 85,500, supported by sector rotation into financials, pharma, and autos. Bank Nifty leads upside potential to 60,000-60,500 if 59,600 holds, fuelled by PSU bank momentum.

Key Levels & Strategy

• Nifty: Support 26,050-26,100; Resistance 26,300-26,350. Long above 26,300 (stop 26,100); fade rallies into 26,400 pre-RBI.
• Bank Nifty: Support 59,600-59,300; Resistance 60,000-60,500. Buy dips to 59,900 (target 60,250).
• Sensex: Support 85,500-85,000; Resistance 86,000-86,500.

Focus on high OI strikes (Nifty 26,000 Put/26,300 Call) for pinning risks post-expiry.

Economic Triggers

RBI MPC on December 5 expected to cut repo by 25bps to 5.25-6.25%, boosting rate-sensitive sectors amid 6.4% FY25 GDP forecast. No major IPO listings; monitor Q3 results and US data for global cues.

Trade Conclusion: Positive with pullback room—hold supports for longs, trail stops aggressively. Volatility caps aggression pre-policy; defensives favoured on dips.

Key Cautions for 1st Week December Trades

Indian markets face elevated volatility in the first week of December 2025 due to RBI MPC (Dec 3-5), with consensus for 25bps repo cut to 5.25-6.25% but hawkish surprises possible on inflation data, risking rate-sensitive sectors like banking and realty. Nifty 50 support at 26,100 critical; breach signals 25,800 correction amid narrow-bodied candles showing indecision post-record highs.

FII/DII Flows & Global Risks

FIIs net sold ₹1,255 Cr on Nov 27 (DIIs bought ₹3,941 Cr), continuing outflow trend; sustained selling pressures Nifty below 26,300 despite DII ballast. Global cues—US tariff threats (25% on India), Middle East tensions, and Fed commentary—could trigger risk-off moves, amplifying VIX spikes despite recent 15% drop.

Technical & Sector Traps

Bank Nifty vulnerable below 59,600 (Doji indecision), with OI pinning at 60,000 Call/59,600 Put; Oil & Gas, telecom lagged 0.5-1% recently, watch GAIL-like tariff disappointments. Mid/smallcaps flat; avoid overleveraged longs near 26,400 resistance pre-policy.

Risk Factor	Trigger Level/Action	Impact
RBI MPC	No cut/hawkish tone	Nifty <26,100
FII Selling	Sustained outflows	25,800 test
Global Cues	US tariffs/Mideast	VIX >15

Trade Caution: Tight stops below support; reduce positional bets pre-Dec 5, favor cash/hedges amid 60% historical December hit rate but FII caution. Volatility demands discipline over aggression.

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