All the major sectoral indices traded in the green
Shrikant Chouhan,
Head Equity Research,
Kotak Securities
Mumbai, November 26, 2025: Today, the benchmark indices witnessed a stellar rally. The Nifty ended 321 points higher, while the Sensex was up by 1023 points. Among sectors, all the major sectoral indices traded in the green, but the Metal index outperformed today, rallying over 2 percent. Technically, on daily charts, the index has formed a promising reversal pattern, and a long bullish candle has appeared, which is largely positive. For trend-following traders now, 26,000/85000 and 26,100/85300 would act as key support zones. As long as the market is trading above these levels, the bullish formation is likely to continue. On the higher side, 26,350–26,400/86000-86200 would act as immediate resistance levels for the bulls. However, below 26,000/85000, the uptrend would become vulnerable.
Gaurav Garg, Research Analyst Lemonn Markets Desk, adds:
Benchmark indices staged a strong rebound on November 26, rising over 1 percent each and set to break their three-day losing streak, supported by broad-based buying and improved global sentiment. Optimism was fuelled by growing expectations of a December Federal Reserve rate cut after softer US retail data, weaker consumer confidence and supportive comments from Fed policymakers. This boosted Asian markets as well, and the positive global setup spilled over to Indian equities, lifting IT and metal stocks in particular.
Rate-sensitive domestic sectors such as banks, financials, autos, consumer stocks and realty also gained as expectations strengthened for a possible rate cut by the RBI next week. FII buying returned on November 25, reinforcing bullish sentiment, while heavyweights including HDFC Bank, ICICI Bank and Reliance Industries added stability to the rally. Bank Nifty hit a fresh record high, led by Axis Bank and IndusInd Bank. Meanwhile, a drop in crude oil prices to near one-month lows provided an additional boost, supporting OMC stocks after their recent correction.
Volatility remained contained, with India VIX near 12, signalling a stable market environment. The combination of supportive global cues, improving liquidity expectations and sector-wide participation is helping the market recover after recent weakness. They maintain a buy-on-dips approach but highlight that the Nifty now faces a key resistance zone around 26,200–26,277. Sustained trade above this level could open the path toward 26,400–26,500, while support lies at 25,900 and then 25,800.
