Indian stock market benchmarks paused for breath on Friday, 28 November 2025, after having soared to fresh all-time highs just the day before. The market witnessed notable volatility and sectoral rotation, culminating in the Sensex closing virtually flat, while the Nifty 50 managed to hold the crucial 26,200 level, thanks primarily to strong performance from healthcare shares.
(Source: NSE: As of November 28, 2025 | 03:55 PM)
Benchmark Performance Summary
The closing bell saw minor corrections in the benchmark indices, signalling a day of consolidation rather than a decisive move.
- The Nifty 50 closed at 26,203, shedding a marginal 13 points.
- The Sensex ended at 85,702, down by a mere 19 points.
- The Bank Nifty showed resilience, inching up by 15 points to settle at 59,753.
Earlier in Thursday’s session, both the Nifty and Sensex had scaled new record highs of 26,310.45 and 86,054.26, respectively, suggesting the current trend is one of post-record high exhaustion.
(Source: BSE,NSE: As of November 28, 2025 | 03:55 PM)
Sectoral Stars in the Indian Stock Market Today
- Pharma led the charge, with the Nifty Pharma index rising by an impressive 0.59%.
- Auto and Media sectors also posted strong gains, with the Nifty Auto index rising 0.62% and the Nifty Media index advancing 0.55%.
These sectoral gains were reflected in the list of Nifty 50 top performers:
- Mahindra & Mahindra (M&M) surged 2.17%.
- Sun Pharma followed with a gain of 1.20%.
- Adani Enterprises (ADANIENT) was also a significant contributor, rising by 1.20%.
The strong upward momentum from these sectors provided a notable counterbalance in the stock market today.
(Source: Moneycontrol, Business Standard)
Technical Outlook and Support Levels
The Nifty’s weekly closing formed a small candlestick, which indicates indecisiveness among traders at higher price points. On the hourly chart, the Relative Strength Index (RSI) shows a bearish crossover, suggesting a potential short-term pause for the bulls.
- Immediate Support: The key support zone for the Nifty is visible at 26,100 and 26,000.
- Resistance: Resistance is placed at 26,300, with a sustained close above this level potentially opening the door for a move towards the 26,600 mark.
- Outlook: The technical setup suggests the index is likely to trade in a tight range between 26,100 and 26,300 in the immediate future.
(Source: NSE)
Global Tailwinds and Positive Catalysts
Despite the day’s consolidation, several significant positive catalysts remain in the background that could fuel further upside in the stock market:
- Geopolitical Partnership: Russian President Vladimir Putin will visit India on December 4–5, 2025 for the 23rd Annual Summit, providing an opportunity to deepen the nations’ “Special and Privileged Strategic Partnership” and review progress in bilateral relations.
- Rate Cuts: Hopes of a December interest rate cut by the US Federal Reserve (Fed) combined with expectations of a rate cut by the Reserve Bank of India (RBI) are boosting sentiment.
- Crude Oil Prices: Crude oil prices were in a freefall, sliding to $59 per barrel, easing domestic inflationary pressures.
- Growth Outlook: Moody’s Ratings reaffirmed confidence in the Indian economy, projecting a 7% GDP expansion in 2025.
- Volatility Eases: The India VIX, a key measure of market volatility, witnessed its steepest weekly decline in six months, falling from 13.64 to around 11.1, suggesting lower fear levels despite new record highs.
(Source: Economic Times and NDTV World)
The Bottomline
This confluence of domestic performance and favourable global cues suggests that while short-term volatility persists, the underlying bullish trend in the Indian stock market remains intact. The technical setup might suggest a consolidation phase, keeping the Nifty range-bound between 26,100 and 26,300.
However, with global tailwinds like easing oil prices, potential rate cuts, and robust domestic growth forecasts from Moody’s, the overall bullish sentiment in the share market remains firmly anchored. Investors should view this post-record high pause not as a retreat, but as a healthy foundation for the next potential leg of the rally.
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