November 17th to November 21st 2025
It was a cautiously positive week — frontline stocks managed to post modest gains, while mid- and small-caps continued to feel the pressure and phase of turbulence and hesitation still shaping the path ahead for the week ahead.
The biggest positive takeaway however was that Nifty logged its second consecutive weekly gain — a sign that optimism isn’t fully lost.
Nifty (+0.61%, 26068)
Sensex (+0.79%, 85232)
Bank Nifty (+0.60%, 58868)
The Biggest Positive Catalysts:
1) The Nifty IT index led sector gains, with Infosys emerging as the standout mover, rising 2.81%. The rally came as investors positioned ahead of the company’s ₹18,000 crore share buyback, which opens on 20 November 2025 and remains active until 26 November 2025.
Infosys plans to repurchase up to 10 crore shares (2.41% of equity) at ₹1,800 per share via the tender route, with eligibility based on the 14 November 2025 record date.
2) Bank Nifty has hit a fresh all-time high, and more importantly, is signalling a major upside breakout, reinforcing the strength of the broader market.
Substantial rate cuts from the RBI are on the horizon.
That’s because, India’s CPI inflation has dropped to record lows, marking the ninth straight month below the RBI’s 4% target.
Food inflation — which makes up nearly half of the CPI basket — fell 5.02% YoY, the sharpest decline ever recorded, strengthening the case for policy easing.
Other supportive catalysts include:
1) US–India Trade Deal Hopes: Renewed optimism as both countries inch closer to finalising a mutually beneficial agreement.
2) AI rally reignites Wall Street after Nvidia’s earnings and guidance smashed expectations.
3) Crude Oil Prices in a Freefall: Futures have tumbled toward $57.45 per barrel, after OPEC signalled a comfortable supply environment — a major macro tailwind for India.
Bottom-line: With the macro setup turning decisively bullish, Nifty bulls are now setting sights on its all-time-high at 26277.35 milestone, with the next target goal post firmly placed at psychological 27000 mark.
Weekly Recap:
Instruments LTP Weekly % Change
Nifty 26068 +0.61%
Sensex 85232 +0.79%
Bank Nifty 58868 +0.60%
Nifty Midcap 16415 +0.15%
India VIX 13.63 +14.18%
Dow 46245 (-3.07%)
Nasdaq 24240 (-3.07%)
Bovespa 154770 (-1.88%)
Crude Oil 57.50 (-4.25%)
Gold 4068 (-0.36%)
Silver 49.67 (-1.76%)
USD/INR 89.55 +1.05%
Here are how indices performed in the week gone by:
1) Nifty (+0.61%) ringed gains for the 2nd straight week, and the positive takeaway was that the benchmark ended above the psychological important 26000 mark.
Nifty is also way above its 21 DMA (25847), 50 DMA (25452), 100 DMA (25192) and Nifty’s 200 DMA at 24515 mark.
2) Bank Nifty (+0.60%) was well bid and the positive takeaway was that Bank Nifty managed scale new record all-time-high at 59440.10 mark.
Bank Nifty’s 200-DMA is at 54498 mark.
3) Nifty Private Bank index inched 0.72% higher while Nifty PSU Bank index gained 0.23% lower.
4) The broader markets traded with smart gains as Nifty Mid-cap 50 index ended with 0.72% higher while the Nifty Small-cap index plunged 2.22% lower.
Bullish Sectors:
Nifty IT (+1.61%)
Nifty Auto (+1.09%)
Nifty Infra (+0.44%)
Bearish Sectors:
Nifty Realty (-3.78%)
Nifty Metal (-3.36%)
Nifty Media (-2.4%)
Nifty Energy (-1.13%)
Nifty Pharma (-1.05%)
Nifty FMCG (-0.10%)
STOCK SPECIFIC NEWS:
1) Tata Consultancy Services (TCS) (+1.44%) gained after announcing a pact with TPG Terabyte Bidco to invest up to ₹18,000 crore in Hypervault, with plans to jointly develop AI data centers and supporting infrastructure.
2) InterGlobe Aviation (Indigo) (-1.10%) ended lower despite its board approving an investment of $820 million (₹729.4 crore) into its wholly owned subsidiary, InterGlobe Aviation Financial Services IFSC, to be executed in one or more tranches.
3) Hindalco Industries (-3.23%) after reporting a fire incident at its Novelis plant in Oswego, New York.
4) Tilaknagar Industries (TI) (-0.41%) was consolidating even after entering the premium whisky segment with the launch of Seven Islands pure malt whisky.
5) Transrail Lighting (-0.76%) gained on new orders worth ₹548 crore, including a major international transmission line EPC project in the MENA region.
6) Mahindra Holidays & Resorts India (+5.56%) climbed as its board approved entry into the ‘Leisure Hospitality’ segment, to be operated via its subsidiary Mahindra Hotels and Residences India under the brand Mahindra Signature Resorts.
7) Gujarat Industries Power Company (GIPCL) (-1.21%) slipped despite commissioning of the fourth phase of its 600-MW solar project at the 2,375-MW Renewable Energy Park in Khavda, Great Rann of Kutch.
8) Tata Motors Passenger Vehicles (-7.40%) dropped despite reporting a sharp jump in Q2 FY26 profit driven by exceptional gains from the commercial vehicle unit demerger. Revenue fell 13.4% YoY.
9) Kotak Mahindra Bank (+0.39%) gained ahead of its board meeting on 21 Nov to consider a stock split.
10) Glenmark Pharma (-2.71%) slipped even as Q2 consolidated profit surged 72.3% YoY and revenue jumped 76.6%.
11) Siemens (+2.9%) rallied on strong revenue growth, although Q4 profit dipped 7.1% YoY due to a high one-time base.
12) Narayana Hrudayalaya (+16.52%) surged as Q2 profit climbed 30.1% and revenue grew 20.3% YoY.
13) India Glycols (+8.37%) soared after reporting 30.9% profit growth and a 13.6% rise in Q2 revenue.
14) HUDCO (+1.1%) gained post results: Net sales rose 27.85% YoY to ₹3,219 crore in Sep 2025. Quarterly net profit increased 3.08% to ₹709.83 crore, while EBITDA grew 16.51% to ₹3,104 crore.
15) NBCC (-1.34%) slipped despite two key developments:
a) The company secured a ₹2,966.1 crore work order from the Nagpur Metropolitan Region Development Authority (NMRDA).
b) NBCC sold 609 residential units at Aspire Leisure Valley and Aspire Centurian Park, Noida (W) via e-auction, generating a total value of approximately ₹1,069.43 crore.
In the week gone by, notable gainers amongst Nifty 50 were:
MAX HEALTH (+7.07%)
EICHER MOT (+6.56%)
BHARTI AIRTEL (+2.95%)
INFOSYS (+2.81%)
AXIS BANK (+2.75%)
And the losers were:
TTATA MOTORS PV (-7.4%)
JIO FINANCIAL (-3.60%)
TATA STEEL (-3.59%)
HINDALCO (-3.23%)
BEL (-2.46%)
WHAT’S NEXT FOR NIFTY?
Nifty slipped in Friday’s trade, pressured by weak global cues and renewed worries over stretched valuations in the AI and tech space.
The 2-big questions:
1) Has the recent rally run out of steam?
2) Can Nifty recover after Friday’s sharp sell-off?
For now, the correction appears more like profit-booking rather than a trend reversal. The index is expected to consolidate and attempt another push toward its all-time high of 26,277.35.
The 2-Biggest Headwinds in near term:
1) Concerns over stretched AI valuations remain.
2) Rapidly fading expectations of a December U.S. Fed rate cut.
Despite the caution, Nifty bulls could regroup on backdrop of optimism surrounding a potential US–India trade agreement.
Please note, despite the steep 50% U.S. duty, India’s export decline has been relatively moderate, giving policymakers leverage — especially with growing signals of a potential tariff rollback.
GDP Snapshot:
India’s GDP growth data for the quarter ending 30 September 2025 is due. The economy previously expanded 7.8% YoY in Q1 FY26, accelerating from 7.4%, marking the strongest growth in five quarters. Markets will be keen to see if this momentum continues.
Bottom-line: Nifty may rise, but volatility shall persist.
Long Story Short: Keep Your Nifty all-time high cap ready! Yipee!!
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