The headline equity indices ended with decent gains today, extending their rally for a second straight session. Global sentiment improved after Nvidia posted strong earnings, while steady FII inflows supported domestic markets. Volatility picked up due to the weekly expiry of Sensex derivatives, yet both the Sensex and Nifty touched 52-week highs during the session. The Nifty closed above the 26,150 mark, led by financial services, energy and auto stocks.

The S&P BSE Sensex climbed 446.21 points, or 0.52%, to 85,632.68, while the Nifty 50 rose 139.50 points, or 0.54%, to 26,192.15. Earlier in the day, the Nifty touched a fresh 52-week high of 26,246.65 and the Sensex hit a 52-week high of 85,801.70 in mid-afternoon trade. The Sensex had earlier set a record high of 85,978.25 on 27 September 2024, while the Nifty's all-time high stands at 26,277.35, also recorded on 27 September 2024. Over the last two sessions, the Sensex has gained 1.13% and the Nifty has added 1.08%.

Bajaj Finance (up 2.28%), Reliance Industries (up 2.01%) and HDFC Bank (up 1.42%) boosted the Nifty today.

In the broader market, the S&P BSE Mid-Cap index rallied 0.13% and the S&P BSE Small-Cap index declined 0.17%.

The market breadth was negative. On the BSE, 1,872 shares rose and 2,304 shares fell. A total of 186 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, added 1.35% to 12.14.

Numbers to Track:

The yield on India's 10-year benchmark federal paper was up 0.17% to 6.543 as compared with previous close 6.523.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 88.7100 compared with its close of 88.4800 during the previous trading session.

MCX Gold futures for 5 December 2025 settlement shed 0.28% to Rs 1,22,710.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.05% to 100.18.

The United States 10-year bond yield added 0.05% to 4.135.

In the commodities market, Brent crude for January 2025 settlement gained 49 cents or 0.77% to $64 a barrel.

Global Markets:

Dow Jones futures were up by 279 points, signaling a positive start for US stocks today.

European market advanced, while most Asian markets ended higher on Thursday, as chip shares rallied after Nvidia's stronger-than-expected earnings and bullish forecast appeared to reinforce confidence in the global AI trade and boost the broader market.

Shares of the chip giant jumped more than 4% in extended trading after its fiscal third-quarter earnings beat earnings and revenue expectations. The AI chip maker also gave a stronger-than-expected fourth-quarter sales forecast, with CEO Jensen Huang saying demand for its current-generation Blackwell chips is 'off the charts.'

On Wall Street, stocks closed mostly higher on Wednesday as Wall Street recovered some ground from tech-led sell-off. The S&P 500 gained 0.38%, while the Nasdaq Composite advanced 0.59%. The Dow Jones Industrial Average climbed 0.1%.

Latest meeting minutes released on Wednesday showed that the Federal Reserve officials were at odds during their October meeting over cutting interest rates, divided over whether a stalling labor market or stubborn inflation were bigger economic threats.

While the Federal Open Market Committee approved a cut at the meeting, the path forward looks less certain. Disagreements stretched into the outlook for December, with officials expressing skepticism about the need for an additional reduction that markets had been widely anticipating, with 'many' saying that no more cuts are needed at least in 2025.

The minutes did note that 'most participants' saw further cuts likely in the future, though not necessarily in December.

The minutes also discussed the balance sheet aspect of policy. The FOMC agreed to stop the reduction of Treasury and mortgage-backed securities in December, a process that has shaved more than $2.5 trillion off the balance sheet, which is still around $6.6 trillion. There appeared to be widespread approval for the halting of a process known as quantitative tightening.

New Listings:

Shares of Fujiyama Power Systems settled at Rs 208.35 on the BSE, representing a discount of 8.62% as compared with the issue price of Rs 228.

The stock listed at Rs 218.40, reflecting a 4.21% discount to the issue price. The stock has hit a high of 231 and a low of 205.35. On the BSE, 20.74 lakh shares of the company were traded in the counter.

Stocks in Spotlight:

Biocon tumbled 3.50% to Rs 395.50 after a foreign brokerage issued a double downgrade on the stock, cutting its rating to Sell from Buy. The brokerage reduced Biocon's target to Rs 360 from Rs 430.

Lokesh Machines fell 4.89% to Rs 169.30 after Acuite Ratings & Research downgraded the company's credit ratings on both long-term and short-term bank facilities. In an exchange filing, the company said Acuite cut its long-term rating to ACUITE BBB- / Stable from ACUITE BBB and its short-term rating to ACUITE A3 from ACUITE A3+ on Rs 208.42 crore bank facilities. The ratings were also removed from Under Watch with Negative Implications.

Tilaknagar Industries (TI) advanced 3.40% after the company has marked its entry into the premium whisky category with the launch of Seven Islands pure malt whisky.

Transrail Lighting rose 2.26% after the company announced that it has received new orders worth Rs 548 crore, including a major international transmission line EPC project in a new country within MENA region.

Epack Prefab Technologies jumped 4.85% after it entered into a memorandum of understanding (MoU) with MASCOT South Asia LLP to facilitate its proposed capacity addition in the State of Gujarat. The MoU will enable collaboration between Epack Prefab, MASCOT South Asia LLP, and the company for the planned expansion, forming part of the company's strategy to enhance production capabilities and leverage advanced technology for growth in the region.

Mahindra Holidays & Resorts India gained 3.26% after the company's board approved entering into 'Leisure Hospitality' segment, aimed at scaling and diversifying its existing business portfolio. The new vertical will be operated through its wholly owned subsidiary, Mahindra Hotels and Residences India, under the brand name Mahindra Signature Resorts.

Globus Spirits slipped 2.22%. The company said that its board approved raising funds upto Rs 500 crore through the issuance of equity shares in one or more tranches.

MAN Industries (India) gained 4.04% after the company announced the signing of a memorandum of understanding (MoU) with Aramco Asia India (AAI), a subsidiary of Saudi Aramco.

Gujarat Industries Power Company (GIPCL) advanced 1.56% after the firm commissioned the fourth phase of its 600-MW solar power project at the 2,375-MW Renewable Energy Park in Khavda, Great Rann of Kutch.

IPO Update:

Excelsoft Technologies received bids for 20,62,75,875 shares as against 3,07,01,754 shares on offer, according to stock exchange data at 16:45 IST on Thursday (20 November 2025). The issue was subscribed 6.72 times. The issue opened for bidding on 19 November 2025 and it will close on 21 November 2025. The price band of the IPO is fixed between Rs 114 and 120 per share.

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