Market Wrap

Indian equity markets ended the week under pressure as investors booked profits following recent gains. The Nifty 50 slipped 0.33%, struggling to hold above the crucial 26,100 resistance level. Broader weakness was seen across most sectors, though IT stocks bucked the trend, forming a weekly reversal pattern from multi-month support levels, signaling selective resilience.

Global cues were mixed: Asian markets advanced on optimism around the Trump-Xi meeting at the APEC Summit, raising hopes of easing U.S.–China trade tensions. Conversely, fresh U.S. sanctions on Russian oil majors Rosneft and Lukoil reignited concerns over crude-oil supply, creating volatility in energy and import-dependent sectors. Overall, domestic sentiment remained cautious, with investors preferring selective buying amid geopolitical and macroeconomic uncertainties.

What's Ahead

The coming week is likely to be earnings- and data-driven :

• The November derivative series kicks off, and performance in multi-cap and mid-cap stocks could dictate short-term momentum.

• Key domestic and global triggers include U.S. GDP releases and the potential impact of sanctions-related crude-oil supply disruptions.

• For a meaningful upside, Nifty must decisively breach 26,100. On the downside, support levels to watch are 25,730 and 25,600.

• Investors are expected to track sector-specific movements, especially in IT, energy, and import-dependent industries, to gauge near-term market direction.

Market Snapshots

Institiutional Activity

Sectoral Performance

Technical Outlook

Nifty 50

The Nifty 50 closed at 25,795.15, down 0.37%, as profit-taking emerged following a six-day rally. Market breadth was weak, with 34 declines versus 16 advances, led by heavyweights HDFC Bank (-1.28%), Kotak Bank (-1.49%), and HDFC Life (-0.94%). Other notable drags included Hindustan Unilever (-3.33%) and Cipla (-3.68%), while Hindalco (+4.11%), ICICI Bank (+1.05%), and Bharti Airtel (+1%) provided some support.

Intraday action saw a high of 25,944.15 and a low of 25,718.2, with the index paring losses to close near 25,795. The RSI around 70 suggests near-term overbought conditions, and profit booking is expected near current levels. Support is seen at 25,507 / 25,328, while resistance lies at 26,084 / 26,262.

Bank Nifty

The Bank Nifty ended at 57,699.6, down 0.65%, as HDFC Bank (-1.28%) and Kotak Bank (-1.49%) dragged the index lower. Market breadth was poor, with 10 of 12 stocks declining. Other notable losers included Axis Bank (-1.33%) and SBI (-0.83%), while ICICI Bank (+1.05%) and Federal Bank (+0.13%) managed modest gains.

The index opened at 58,172.75, hit an intraday low of 57,482.05, and rebounded to 58,232.9 before settling at 57,699.6. RSI near 60 indicates mild bullish momentum, but profit booking is visible after recent strong gains. Support levels are at 57,027 / 56,611, while resistance is at 58,372 / 58,788.

Sensex

The Sensex closed at 84,211.88, down 0.41%, as selling pressure in financials and consumer staples outweighed gains in ICICI Bank (+1.05%) and Bharti Airtel (+1%). 21 of 30 constituents declined, with HDFC Bank (-1.28%), Axis Bank (-1.33%), Kotak Bank (-1.49%), and HUL (-3.33%) leading the losses.

Support is placed at 83,237 / 82,634, while resistance levels are at 85,187 / 85,789. The index is showing early signs of consolidation following recent rally highs.

FINNIFTY

The Nifty Financial Services index slipped 161.35 points to 27,395.30 (-0.59%), with declines dominated by HDFC Bank (-1.28%), Axis Bank (-1.33%), and Kotak Bank (-1.49%). In contrast, ICICI Bank (+1.05%) and Cholamandalam Financial (+3.72%) bucked the trend. Overall, 14 of 20 constituents ended lower, signaling cautious investor sentiment.

Support is at 27,092 / 26,904, while resistance lies at 27,699 / 27,886. The index is consolidating after recent gains, with heavyweights influencing near-term direction.